48:12-134 - Borrowing money; bonds secured by mortgage - New Jersey Statutes

48:12-134.  Borrowing money;  bonds secured by mortgage    In all cases of merger or consolidation under this article, the consolidated  or acquiring company may borrow an amount of money, sufficient to cover all the  indebtedness of the companies united by such consolidation or merger and  complete, extend, repair, improve and equip its railroad and furnish all  necessary lands, personal property, engines, cars and equipment, and may issue  bonds for the money borrowed secured by mortgage on its corporate property and  franchises or any part thereof.

     Amended by L.1948, c. 317, p. 1271, s. 9;  L.1962, c. 198, s. 146.