New Jersey § 40:68-3 Lease of improvements;  terms;  lessee's bond;  use of improvement  by others

New Jersey Statutes

§ 40:68-3 — Lease of improvements; terms; lessee's bond; use of improvement by others

New Jersey § 40:68-3

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:68-3 (Lease of improvements; terms; lessee's bond; use of improvement by others) 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. § 40:68-3 (2026).

Text

The governing body may lease for any period not exceeding ten years, under such covenants, terms and conditions as it may prescribe, storage facilities, wharves, piers, bulkheads, docks, slips and basins belonging to the municipality. All such leases shall be made by public sale and shall be sold to the highest responsible bidder at public sale at such time and place as the governing body may fix. If no satisfactory bid be made at such sale such lease or leases may, in the same manner, be again exposed to public sale, or the governing body may lease the same for one year or less, and for such rent or rents as it shall deem proper. The term of any lease sold shall begin within twelve months from the date of sale and a bond with satisfactory surety conditioned for the faithful performance of

Free access — add to your briefcase to read the full text and ask questions with AI

The governing body may lease for any period not exceeding ten years, under such covenants, terms and conditions as it may prescribe, storage facilities, wharves, piers, bulkheads, docks, slips and basins belonging to the municipality. All such leases shall be made by public sale and shall be sold to the highest responsible bidder at public sale at such time and place as the governing body may fix. If no satisfactory bid be made at such sale such lease or leases may, in the same manner, be again exposed to public sale, or the governing body may lease the same for one year or less, and for such rent or rents as it shall deem proper. The term of any lease sold shall begin within twelve months from the date of sale and a bond with satisfactory surety conditioned for the faithful performance of all covenants, terms and conditions of the lease may be required from the lessee. At least two weeks' public notice of the time, place, terms and conditions of the sale of all such leases shall be given by advertisement in two newspapers circulating in the municipality, if there be two such newspapers, or if not, then in one such newspaper, for two successive weeks next preceding the sale, twice in each week. The governing body may permit the temporary use for landing purposes, of any wharf, pier, dock, bulkhead, or basin, or the use thereof by any department of the municipality, or by the state or the United States, or any department thereof.