40:14B-25 - Bond resolution - New Jersey Statutes

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.

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