40:14B-27. Sale of bonds
70 words·~1 min read·
/nj/title-40/chapter-14b/40-14b-27·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds of a municipal authority may be sold by the municipal authority at public or private sale at such price or prices as the municipal authority shall determine; provided, however, that the interest cost to maturity of the money received for any issue of bonds (computed according to standard tables of bond values) shall not exceed 6% per annum.
L.1957, c. 183, p. 654, s. 27, eff. Aug. 22, 1957.