40:37B-15. Issuance of bonds and notes; contents of bond resolution
146 words·~1 min read·
/nj/title-40/chapter-37b/40-37b-15A 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 public facility or facilities or for the purpose of funding or refunding any bonds, an authority shall have power to authorize or provide for the issuance of bonds and in anticipation thereof notes pursuant to this act, by a resolution (in this act sometimes referred to as "bond resolution" ) which shall:
(a)describe in brief and general terms sufficient for reasonable identification the public facility or facilities or part thereof, (in this act sometimes called "project" ) to be constructed or acquired, or describe the bonds which are to be funded or refunded (if any);
(b)state the cost or estimated cost of the project (if any); and
(c)provide for the issuance of the bonds in accordance with section 16 of this act.
L.1967, c. 136, s. 15, eff. June 28, 1967.