New Jersey § 40:3-1 Definitions

New Jersey Statutes

§ 40:3-1 — Definitions

New Jersey·Title 40 MUNICIPALITIES AND COUNTIES

For the purposes of this chapter, bonds which are payable in installments in successive years during at least three-quarters of the period covered by the term of the whole issue, shall be known as "serial bonds" . All other bonds shall be known as "term bonds" . The term "governing body" as used in this chapter means the board or body having charge and control of the finances of the municipality, county or school district.

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For the purposes of this chapter, bonds which are payable in installments in successive years during at least three-quarters of the period covered by the term of the whole issue, shall be known as "serial bonds" . All other bonds shall be known as "term bonds" . The term "governing body" as used in this chapter means the board or body having charge and control of the finances of the municipality, county or school district.

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