New Jersey Statutes
§ 40A:2-21 — Minimum period of usefulness
New Jersey·Title 40A MUNICIPALITIES AND COUNTIES
No local unit shall authorize obligations for any improvement or purpose having a period of usefulness of less than 5 years. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
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Nearby Sections
15
§ 40A:2-1
Short title§ 40A:2-11
Down payment.§ 40A:2-12
Bond ordinance; contents§ 40A:2-13
Multipurpose bond ordinances§ 40A:2-14
Local improvement obligations§ 40A:2-15
Power to make special covenants in bond§ 40A:2-16
Matters not in bond ordinance§ 40A:2-17
Adoption of bond ordinance, procedures.§ 40A:2-18
Bond ordinance, effective date.§ 40A:2-19
Publications.§ 40A:2-2
Definitions§ 40A:2-20
Expenses included in cost§ 40A:2-21
Minimum period of usefulness§ 40A:2-22
Maximum bond terms.