New Jersey Statutes 40:62-26. Municipal radio broadcasting stations; bonds
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Terms Used In New Jersey Statutes 40:62-26
- 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.
- 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
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
The governing body of any municipality may by ordinance provide and maintain a municipal radio broadcasting station to advertise its advantages, and in connection therewith, furnish musical, educational and miscellaneous programs, either by its own agency, or through remote controls installed within the municipality or elsewhere. It may contract for the purchase or lease of equipment necessary for the installation and operation of such station, and may make contracts and leases with any person or corporation for remote control service, royalty contracts with publishers and such other contracts as may be convenient for the most effectual operation of the broadcasting station. Any municipality may sell its equipment and apply the proceeds to the purchase of new equipment, or exchange its equipment for other radio broadcasting equipment. The governing body may issue bonds to provide for the cost of such station, including all necessary equipment, machinery and the installation thereof, land and buildings to house the same and to provide funds for its maintenance and operation.