40:37C-13. Disposition of facilities after payment and retirement of bonds
115 words·~1 min read·
/nj/title-40/chapter-37c/40-37c-13A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When the principal of and interest on bonds issued by an authority to finance the cost of a particular pollution control facility, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire the same, and all other conditions of the resolution and the indenture authorizing and securing the same have been satisfied, such authority may do all things and execute such deeds and conveyances as are necessary and required to convey its right, title and interest in such pollution control facilities for a nominal amount or otherwise.
L.1973, c. 376, s. 13, eff. Jan. 9, 1974.