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NEW JERSEY STATUTES AND CODES

32:13A-11 - Lien upon bond proceeds

32:13A-11.  Lien upon bond proceeds
    All moneys received from bonds issued under the provisions of this chapter shall be applied solely to the payment of the cost of the tunnel or to the sinking fund for such bonds, and there shall be and there is hereby created and  granted a lien upon such moneys until so applied, in favor of the holders of  such bonds or the trustee hereinafter provided for in respect of such bonds.
 

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