40A:2-31 Contents of notice.
221 words·~1 min read·
/nj/title-40a/chapter-2/40a-2-31·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
a. A notice of public sale of bonds required to be advertised pursuant to N.J.S.40A:2-30 shall set forth:
(1)the principal amount, date, denomination and maturities, and authorization for any adjustments to the maturities pursuant to subsection g. of N.J.S.40A:2-26 of the bonds offered for sale;
(2)the rate or rates of interest or maximum rate or rates of interest to be borne by the bonds and the method of calculation of interest cost pursuant to subsection e. of N.J.S.40A:2-32;
(3)postponement provisions and other terms and conditions of such public sale;
(4)the type of sale to be conducted, through the submission of either sealed or electronic proposals; and
(5)such other provisions as may be determined by the governing body.
b. A summary of the notice of public sale of bonds required to be advertised pursuant to N.J.S.40A:2-30 shall set forth:
(1)the principal amount, date, denomination and maturities of the bonds offered for sale;
(2)the rate or rates of interest or maximum rate or rates of interest to be borne by the bonds;
(3)a reference to where additional terms and conditions of the public sale may be obtained; and
(4)the type of sale to be conducted, through the submission of either sealed or electronic proposals.
L.1960, c.169, s.1; amended 1992, c.178, s.4; 2003, c.15, s.7.