40:37-95.10j - Additional bonds or obligations; issuance for land, improvements or payment of notes; limitations - New Jersey Statutes

40:37-95.10j.  Additional bonds or obligations;  issuance for land, improvements or payment of notes;  limitations
    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 and P.L.1970, chapter  148 (C. 40:37-95.10a to 40:37-95.10h), the governing body, 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.1978, c. 121, s. 1, eff. Sept. 25, 1978.