40:37B-18 - Sale of bonds and notes - New Jersey Statutes

40:37B-18.  Sale of bonds and notes
    Bonds and notes of an authority may be sold, as hereinafter provided, at public or private sale at such price or prices as the authority shall determine;  provided, however, that the interest cost to their average maturity  of the money received for any group of bonds sold in a single transaction  (computed according to standard tables of bond values) shall not exceed 6% per  annum.  No obligations shall be sold for less than par value and interest  accrued to date of delivery.

     L.1967, c. 136, s. 18, eff. June 28, 1967.