32:2-23.2 - Bonds of Port Authority; legal investments - New Jersey Statutes

32:2-23.2.  Bonds of Port Authority;  legal investments
    The bonds, notes or other obligations or evidences of indebtedness issued by  the Port Authority to provide funds for the establishment, acquisition and rehabilitation of such motor bus terminal are hereby made securities in which all State and municipal officers and bodies of both States, all banks, bankers,  trust companies, savings banks, building and loan associations, savings and  loan associations, investment companies and other persons carrying on a banking  business, all insurance companies, insurance associations and other persons  carrying on an insurance business, and all administrators, executors,  guardians, trustees and other fiduciaries, and all other persons whatsoever,  who are now or may hereafter be authorized by either State to invest in bonds  or other obligations of such State, may properly and legally invest any funds,  including capital, belonging to them or within their control;  and said  obligations are hereby made securities which may properly and legally be  deposited with and shall be received by any State or municipal officer or  agency of either State for any purpose for which the deposit of bonds or other  obligations of such State is now or may hereafter be authorized.

     L.1946, c. 95, p. 318, s. 2.