New Jersey § 40:37B-18 Sale of bonds and notes

New Jersey Statutes

§ 40:37B-18 — Sale of bonds and notes

New Jersey § 40:37B-18

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:37B-18 (Sale of bonds and notes) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40:37B-18 (2026).

Text

Bonds and notes of an authority may be sold, as hereinafter provided, at public or private sale at such price or prices as the authority shall determine; provided, however, that the interest cost to their average maturity of the money received for any group of bonds sold in a single transaction (computed according to standard tables of bond values) shall not exceed 6% per annum. No obligations shall be sold for less than par value and interest accrued to date of delivery. L.1967, c. 136, s. 18, eff. June 28, 1967.

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Bonds and notes of an authority may be sold, as hereinafter provided, at public or private sale at such price or prices as the authority shall determine; provided, however, that the interest cost to their average maturity of the money received for any group of bonds sold in a single transaction (computed according to standard tables of bond values) shall not exceed 6% per annum. No obligations shall be sold for less than par value and interest accrued to date of delivery. L.1967, c. 136, s. 18, eff. June 28, 1967.