New Jersey Statutes 40:62-25. Contracts for supply of light, heat and power; duration
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 40:62-25
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Any municipality may enter into a contract with any corporation supplying light, heat or power, or a supply of such light, heat or power, or any of them, for the public purposes of such municipality, for any period not exceeding 5 years.
Amended by L.1955, c. 141, p. 635, s. 1, eff. July 14, 1955.