LegalFix
Sign In

Section 18A:24-38 - Contents of notice when proposals are the same

NJ Rev Stat § 18A:24-38 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

18A:24-38. Contents of notice when proposals are the same

Such notice of sale shall state in substance that as between proposals at the same interest rate, the bonds will be sold to the bidder offering to pay a sum equal to the par value of the bonds offered and to accept therefor the least amount of bonds, the bonds to be accepted being those first maturing, and that if two or more bidders offer to accept the same least amount, then to the bidder or bidders offering to pay therefor the highest additional price.

L.1967, c.271.

Previous Section
Section 18A:24-37 - Notice of sale of bonds.
Next Section
Section 18A:24-39 - Special provisions for two or more issues.