jquery json object if statement

I just recently started becoming familiar with JSON and I'm trying to figure out if I can use an IF statement inside of the JSON object...I hope I am referring that correctly.

So, in my code, I am displaying a SELECT and it's OPTION values with JSON, and the issue I am having is IF a value is NULL, display the text NONE.

This is what I have so far:

 function renderIPIEditView ($td)
 {
   var value = $td.text();
   $td.html(''); // clears the current contents of the cell
   var $select = $('<select class="form-control"></select>');
   $td.append($select);

   $.getJSON( 'api/inlands.php', function( data )
   {
     $.each(data, function(index, item)
     {  // here is where I think the IF statement should go
       $('<option>').
         attr('value', item.POINT_CODE).
         text(item.FULL_NAME+', ' +item.US_STATE).
         appendTo($select);
     });

     $select.val(value);
   });
 }

So with the code above, I can display the necessary options value and text. However, inside the table, there is one record that has a POINT_CODE of NONE, and will list the text FULL_NAME and US_STATE as NULL, NULL on the screen.

I think I need an IF statement right where I listed the comment in the code above, but I am not sure if I can even use an IF statement, let alone how to use it in this case.

Please forgive my incompetence as I am still trying to familiarize myself with JSON.

Please help.