40:37-95.10e - Issuance of bonds or other obligations of county pursuant to Local Bond Law; limitation on amount - New Jersey Statutes

40:37-95.10e.  Issuance of bonds or other obligations of county pursuant to  Local Bond Law;  limitation on amount
    In any county which has adopted the provisions of the act of which this act  is a supplement and in which bonds for county park purposes shall have been  authorized and issued pursuant to P.L.1966, chapter 144 (C. 40:37-95.10a to  40:37-95.10d), the board of chosen freeholders, in addition to any other funds  or moneys provided for the purposes of said act, may provide additional funds  for land and improvements by the commission or for the payment of notes previously authorized or issued to provide such funds, by issuance of additional bonds or other obligations of the county pursuant to the provisions of the Local Bond Law (N.J.S. 40A:2-1 et seq.) but in no case shall the amount of such additional issue or issues of bonds or other obligations, both authorized and outstanding at any one time, exceed in the aggregate the sum of $5,000,000.00, plus the amount of any funds on hand applicable to the payment of the principal of such outstanding bonds or other obligations.

     L.1970, c. 148, s. 1, eff. July 22, 1970.