New Jersey Statutes 40:60-48. Lease; term
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Terms Used In New Jersey Statutes 40:60-48
- 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
If the proposition shall be approved by a majority of the qualified voters of the municipality voting at the election, the governing body shall forthwith, upon such terms and conditions as it may prescribe, lease the public casino, playgrounds and bathing establishment for a period not exceeding five years.