N.J.S.A. 40:61-22.5

Use of proceeds of sale or lease

40:61-22.5. Use of proceeds of sale or lease The proceeds of the sale or leasing of any property under this act shall be used for the retiring of any bonds issued for the purchase or improvement of such property or to reduce taxes. L.1938, c. 87, p. 206, s. 4, eff. April 4, 1938.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 40:61-22.5, 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.