The upgrade on New Jersey Educational Facilities Authority's bonds, issued for New Jersey, reflects: The general creditworthiness of the state, as lessee; The strong essentiality of funding the acquisition of technology infrastructure at public and private institutions of higher education in the state; The key role the authority plays in meeting the requirements of the Higher Education Technology Infrastructure Fund Act; The state's demonstrated commitment, in both the administrative and legislative branches, to repaying its contract-backed obligations; and The strong contract provisions that include an absolute and unconditional contract payment provision upon annual appropriation. New Jersey's legislature, in order to meet the requirements of the New Jersey Educational Facilities Authority Law (the law), which was enacted in 1967, created the
