40:61-22.16 - Bids for leases - New Jersey Statutes

40:61-22.16.  Bids for leases
    Any lease executed hereunder shall be upon competitive bids following public  advertisement therefor, in a newspaper circulating in the municipality, at  least once, not less than twenty days prior to the receipt of bids.  The  advertisement shall designate the time and place of a meeting of the governing  body at which the bids shall be received.  At such time and place, the  governing body, or any committee thereof having authority to do so, shall  receive sealed bids and immediately proceed to unseal them and publicly  announce the contents thereof.  A record of the rentals, other consideration  and terms offered shall be made in the minutes of the governing body for each  bid.  No bid shall be received previous to the hour designated in the  advertisement and none shall be received thereafter.  The lease shall be  awarded to the highest responsible bidder.

     L.1952, c. 320, p. 1043, s. 2, eff. June 18, 1952.