Section App.A:3-4 - Bond issue; form of statement; publication of resolution

NJ Rev Stat § App.A:3-4 (2019) (N/A)

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App.A:3-4. Bond issue; form of statement; publication of resolution

4. For the financing of a public works project, any county or municipality may authorize the issuance of negotiable bonds to the federal government by resolution adopted by the governing body. Such resolution may be the resolution authorizing the project or a subsequent resolution. The resolution authorizing bonds shall be published in full together with a statement substantially in the following form:

STATEMENT.

The resolution published herewith has been passed and the ten-day period of limitation within which a suit, action or proceeding questioning the validity of such resolution can be commenced has begun to run from the date of this publication.

Clerk.

Such publication shall, in the case of a county, be in a newspaper at the county seat, and in the case of a municipality, in a newspaper published in the municipality, or if there be no such newspaper, in a newspaper published in the county and circulating in the municipality. After the lapse of said ten days, bonds, notes or interim certificates issued pursuant to such resolution shall be valid and binding obligations of any such county or municipality and incontestable for any cause.

(L.1933, c. 428, s. 4, p. 1149.)

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Section App.A:3-3 - Authorization by resolution; referendum

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Section App.A:3-5 - Financing projects; municipal bonds authorized; special assessments as liens.