40:37-95.31. Funds for land and improvements; limitation upon obligations
139 words·~1 min read·
/nj/title-40/chapter-37/40-37-95-31·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to any other funds or moneys provided for the purposes of the act to which this act is a supplement, the board of chosen freeholders of the county may provide funds for land and improvements by the commission or for the payment of notes previously authorized or issued to provide such funds, by the issuance of bonds or other obligations of the county in pursuance of article 1 of chapter 1 of this Title 40 (Section 40:1-1 et seq.), but in no case shall the amount of such bonds or other obligations, both authorized and outstanding at any one time, exceed in the aggregate the sum of $3,000,000.00, plus the amount of any funds on hand applicable to the payment of the principal of such outstanding bonds or other obligations.
L.1954, c. 247, p. 907, s. 1.