N.J. Stat. § 40:14B-25

Current through L. 2023, c. 256.

Section 40:14B-25 - Bond resolution

For the purpose of raising funds to pay the cost of any part of its utility system or for the purpose of funding or refunding any bonds, a municipal authority shall have power to authorize or provide for the issuance of bonds pursuant to this act. Such municipal authority shall adopt a resolution (in this act sometimes referred to as "bond resolution" ) which shall

(1) describe in brief and general terms sufficient for reasonable identification the utility system or part thereof (in this act sometimes called "project" ) to be constructed or acquired, or describe the bonds which are to be funded or refunded (if any);

(2) state the cost or estimated cost of the project (if any); and

(3) provide for the issuance of the bonds in accordance with section 26 of this act.

N.J.S. § 40:14B-25

L.1957, c.183, p.653, s.25, eff. 8/22/1957.