N.J.S.A. 40:37B-18 — Sale of bonds and notes

40:37B-18. Sale of bonds and notes Bonds and notes of an authority may be sold, as hereinafter provided, at public or private sale at such price or prices as the authority shall determine; provided, however, that the interest cost to their average maturity of the money received for any group of bonds sold in a single transaction (computed according to standard tables of bond values) shall not exceed 6% per annum. No obligations shall be sold for less than par value and interest accrued to date of delivery. L.1967, c. 136, s. 18, eff. June 28, 1967.

This is the verbatim text of N.J.S.A. 40:37B-18, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.