54:5-113.3. Bond, note, obligation deemed asset of municipality
62 words·~1 min read·
/nj/title-54/chapter-5/54-5-113-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
3. To the extent of its value, the bond, note or other obligation referred to in section 2 of P.L.1993, c.113 (C.54:5-113.1) shall be deemed an asset of the municipality and, as such, be available to the municipality for appropriate use, including sale, publicly or privately, as approved by a vote of two-thirds of the full governing body of the municipality.
L.1993,c.325,s.3.