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Code · New Jersey · Title 40A — Municipalities and Counties · Chapter 67

40A:67-10 Authority, file copies of bond resolutions, management committee.

333 words·~2 min read·/nj/title-40a/chapter-67/40a-67-10

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10. An authority shall file a copy of a bond resolution adopted by the board of authority commissioners in its office and in the office of the clerk of the board of commissioners, and may publish, in a newspaper published or circulating in each county's community, a notice stating the fact and date of adoption of the bond resolution and the places where the authority has filed the bond resolution for public inspection, the date of the first publication of the notice, and that an action or proceeding in a court questioning the validity or proper authorization of bonds provided for by the bond resolution, or the validity of any covenants, agreements, or contract provided for by the bond resolution, shall commence within 20 days after the first publication of the notice.
If the notice shall be published and if no action or proceeding questioning the validity of the establishment of the authority or the validity or proper authorization of bonds provided for by the bond resolution referred to in the notice, or the validity of any covenants, agreements, or contract provided for by the bond resolution shall be commenced or instituted within 20 days after the first publication of the notice, then the residents, taxpayers, and owners of property in each of the counties, and all other persons, shall be barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceedings, questioning the validity of the establishment of the authority, the validity or proper authorization of the bonds, or the validity of the covenants, agreements, or contracts.
The authority shall be conclusively deemed to have been validly established and to be authorized to transact business and exercise powers as an authority pursuant to P.L.2023, c.346 (C.40A:67-1 et seq.), and the bonds, covenants, agreements, and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.
L.2023, c.346, s.10; amended 2025, c.253, s.6.
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