| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 40, MUNICIPALITIES AND COUNTIES
Chapter 61: General powers; acquisition of property
Section: 40:61-22.5: Use of proceeds of sale or lease
The proceeds of the sale or leasing of any property under this act shall be used for the retiring of any bonds issued for the purchase or improvement of such property or to reduce taxes.
L.1938, c. 87, p. 206, s. 4, eff. April 4, 1938.
This section added to the Rutgers Database: 2012-09-26 13:37:52.
Older versions of 40:61-22.5 (if available):
Court decisions that cite this statute:
CLICK HERE.