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New Jersey Statutes, Title: 40, MUNICIPALITIES AND COUNTIES

    Chapter 54: Establishment; chapter applicable to libraries established under other laws

      Section: 40:54-19.1: Loan of funds received as gift or bequest

           The board of trustees of the free public library may, upon the application of the governing body of the municipality, loan, upon "tax anticipation notes" or "bond anticipation notes" of the municipality, any funds heretofore or hereafter received, either by the board of trustees of the free public library or by the governing body, as a gift or bequest for free public library purposes and being held and managed by the board of trustees, or subject to their direction pursuant to the provisions of article one of chapter fifty-four of Title 40 of the Revised Statutes, pending the use thereof for the purposes for which the gift or bequest was made.

L.1941, c. 67, p. 152, s. 1. Amended by L.1942, c. 139, p. 429, s. 1, eff. May 6, 1942.



This section added to the Rutgers Database: 2012-09-26 13:37:52.






Older versions of 40:54-19.1 (if available):



Court decisions that cite this statute: CLICK HERE.