40:62-5 - Ordinance providing referendum; ballot; form and content - New Jersey Statutes

40:62-5.  Ordinance providing referendum;  ballot;  form and content
    Upon the receipt of bids the governing body may adopt an ordinance providing  for the lease or sale of the property.  The ordinance shall set forth the terms  and conditions upon which the same shall be leased or sold; the name, address  and amount of bid of the highest responsible bidder therefor;  a general  description of the property to be leased or sold, and any other matters and  things deemed necessary.  The clerk of the governing body shall cause a  certified copy of the ordinance to be served upon the officer charged with the  duty of preparing election ballots, with a request that the question of the  lease or sale as shown by the ordinances shall be placed upon the ballots used  at the next succeeding general election in such municipality.  Such officer  shall have the question printed on the election ballots in substantially one of  the following forms:   "Shall the plant be sold for the sum of          ?"    "Yes."    "No."    "Shall the plant be leased for a term  of          years for the sum of          annual rental?" "Yes."    "No."

    If a majority of the legal voters voting at such election shall vote "Yes,"  the governing body may accept the bid of the highest responsible bidder and carry out such lease or sale as authorized by the election.