33:1-19.5 - Issuance of license or rejection of all bids; postponement or cancellation of sale; disposition of funds - New Jersey Statutes

33:1-19.5.  Issuance of license or rejection of all bids;  postponement or cancellation of sale;  disposition of funds
    Upon the conclusion of a sale the issuing authority shall issue a license to  the highest qualified bidder therefor upon payment of his bid and the license  fee, or shall reject all bids if the highest bid is not accepted.  A sale may  be postponed or canceled at any time prior to the opening of the bids.  Funds  derived from the conduct of a sale shall be remitted to the municipal treasurer  for the general use of the municipality.

     L.1981, c. 416, s. 3, eff. Jan. 9, 1982.