40:61-22.5. Use of proceeds of sale or lease
46 words·~1 min read·
/nj/title-40/chapter-61/40-61-22-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The proceeds of the sale or leasing of any property under this act shall be used for the retiring of any bonds issued for the purchase or improvement of such property or to reduce taxes.
L.1938, c. 87, p. 206, s. 4, eff. April 4, 1938.