40:60-25.18 - Industrial property; management - New Jersey Statutes

40:60-25.18.  Industrial property;  management
    In any municipality which shall have heretofore purchased or shall hereafter  purchase property pursuant to the provisions of chapters two hundred six or two  hundred seven of the laws of one thousand nine hundred and forty-four, and all  or a portion of such property is industrial property, the governing body of the  municipality, to wit, that governmental board of body of the municipality  having control or jurisdiction over its financial affairs, may be resolution  authorize the mayor or other chief executive of such municipality to appoint a  commission (hereinafter referred to as the "commission" ) to manage, maintain,  operate, repair, rehabilitate, sell, lease, and if advisable, improve the  industrial and other property so acquired or to be acquired (hereinafter in  this act referred to as the "property" ), and to designate a chairman of such commission.

     L.1946, c. 245, p. 862, s. 1.  Amended by L.1947, c. 361, p. 1170, s. 1, eff.  June 26, 1947.