40A:67-8 Bond resolution adoption, management committee, powers.
212 words·~1 min read·
/nj/title-40a/chapter-67/40a-67-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
8. Upon adoption of a bond resolution, the board of authority commissioners, on behalf of the authority, shall have power to incur indebtedness, borrow money, and issue bonds for the purpose of financing the construction or operation of the center and any satellite facilities to meet the needs of its members or of funding or refunding the bonds issued pursuant to P.L.2023, c.346 (C.40A:67-1 et seq.). The bonds shall be authorized by the bond resolution and may be issued in one or more series and shall bear the date or dates, mature at a time or times not exceeding 40 years from the date thereof or through the date for the expected dissolution of the authority pursuant to the agreement, whichever occurs first, bear interest at a rate or rates within a maximum rate as permitted by law, be in a denomination or denominations, be in a form, either coupon or registered, carry conversion or registration privileges, have a rank or priority, be executed in a manner, be payable from sources in a medium of payment at a place or places within or without the State, and be subject to the terms of redemption, with or without a premium, as the bond resolution may provide.
L.2023, c.346, s.8; amended 2025, c.253, s.5.