New Jersey Statutes 40:60-25.2. Lease of land for parking lot
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Terms Used In New Jersey Statutes 40:60-25.2
- 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 acquire by lease or leases any land or lands therein, and entrances to and exits from any such lands, for the purpose of making the same available to the public for the parking of vehicles. Any such lease shall be for such period or periods of time and upon such terms and conditions as the governing body of the municipality, by resolution duly adopted by the affirmative vote of the majority of all the members thereof, shall determine.
L.1942, c. 138, p. 427, s. 2.