40:61-22.3 - Public sale to highest bidder; advertisement; minimum price; adjournment - New Jersey Statutes

40:61-22.3.  Public sale to highest bidder;  advertisement;  minimum price;   adjournment    All such sales shall be by public sale to the highest bidder, after public advertisement thereof in a newspaper circulating in the municipality in which such lands are situated, by two insertions at least once a week during two consecutive weeks, the last publication to be not more than seven days prior to  the sale.  The governing body of the municipality may by resolution fix a minimum price at which any such land may be sold at public sale, said minimum price to be included in the advertisement of sale of said lands, and public notice thereof given at the time of sale.  Such sales may be adjourned at the time advertised, for not more than one week, without readvertising.

     L.1938, c. 87, p. 205, s. 2, eff. April 4, 1938.