New Jersey Statutes 40:62-10. Establishment; appropriation; lands, buildings and equipment
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Terms Used In New Jersey Statutes 40:62-10
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any municipality may, after making the necessary appropriation therefor, acquire by purchase, gift, condemnation or lease, such lands and buildings as may be needed for the establishment, maintenance and operation of a municipal ice plant or a municipal coal and wood depot, and may acquire such additional lands, acquire or construct such additional buildings and equipment and purchase such supplies as may be necessary for properly conducting such business. It may acquire any and all horses and vehicles necessary in such business and may from time to time replace and repair the same.