40:14A-10. Bonds; issuance authorized

126 words·~1 min read·/nj/title-40/chapter-14a/40-14a-10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For the purpose of raising funds to pay the cost of any part of its sewerage system, a sewerage authority shall have power to authorize or provide for the issuance of bonds pursuant to this act. Such sewerage authority shall adopt a resolution (in this act sometimes referred to as "bond resolution" ) which shall

(1)describe in brief and general terms sufficient for reasonable identification the part (in this act sometimes called "project" ) of the sewerage system to be constructed or acquired;

(2)state the cost or estimated cost of the project; and

(3)provide for the issuance of the bonds in accordance with either section eleven or section twelve of this act.

L.1946, c. 138, p. 652, s. 10, eff. April 23, 1946.