40:68-44 - Issuance of notes, bonds or other evidence of indebtedness according to Local Bond Law; purchase of bonds by municipality - New Jersey Statutes

40:68-44.  Issuance of notes, bonds or other evidence of indebtedness according to Local Bond Law;  purchase of bonds by municipality
    Notes, bonds or other evidence of indebtedness issued by a district shall be  issued under and in accordance with the Local Bond Law, chapter 2 of Title 40A  of the New Jersey Statutes (R.S. 40A et seq.) except that any bonds sold by  such district may be issued for a period of up to but not exceeding 20 years.   The municipality wherein the district is situate is authorized to purchase at  private sale the bonds of any district at no interest or at such interest rate  as may be agreed upon by the commissioners of the district and the governing  body of the municipality.

     L.1967, c. 184, s. 18, eff. July 27, 1967.