N.J.S.A. 40:68-44 — Issuance of notes, bonds or other evidence of indebtedness according to Local Bond Law; purchase of bonds by municipality

40:68-44. Issuance of notes, bonds or other evidence of indebtedness according to Local Bond Law; purchase of bonds by municipality Notes, bonds or other evidence of indebtedness issued by a district shall be issued under and in accordance with the Local Bond Law, chapter 2 of Title 40A of the New Jersey Statutes (R.S. 40A et seq.) except that any bonds sold by such district may be issued for a period of up to but not exceeding 20 years. The municipality wherein the district is situate is authorized to purchase at private sale the bonds of any district at no interest or at such interest rate as may be agreed upon by the commissioners of the district and the governing body of the municipality. L.1967, c. 184, s. 18, eff. July 27, 1967.

This is the verbatim text of N.J.S.A. 40:68-44, 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.