40:37-132.1 - Moneys received for lands transferred by counties of first class for state highway purposes - New Jersey Statutes

40:37-132.1.  Moneys received for lands transferred by counties of first class for state highway purposes
    When, in any county of the first class in which there is a county park commission governed by and acting under the provisions of sections 40:37-96 to 40:37-174, inclusive, of the Revised Statutes, such park commission has heretofore transferred and conveyed or shall hereafter transfer and convey park  lands or parkways to the State of New Jersey for State highway purposes, the  moneys received in payment therefor shall be applied, in the manner determined  by the board of chosen freeholders of such county, to the retirement of any  outstanding and unpaid county bonds issued for the purpose of the acquisition  and original improvement of such park lands or parkways so transferred or  conveyed, and the balance of such moneys, if any, shall be set aside by said  park commission as a capital improvement fund and, with the concurrence of the  board of chosen freeholders, be used from time to time by said commission for  the acquisition of additional lands for park or parkway purposes and the  development and improvement of such lands or parkways or the public parks  within the limits of the county.

     L.1957, c. 228, p. 777, s. 1, eff. Jan. 14, 1958.