New Jersey Statutes 40A:11-13.1. Payment from bequest, legacy or gift; conditions
Current as of: 2023 | Check for updates
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Terms Used In New Jersey Statutes 40A:11-13.1
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
20. Goods or services, the payment for which utilizes only funds received by a contracting unit from a bequest, legacy or gift, shall be subject to the provisions of P.L.1971, c.198 (C. 40A:11-1 et seq.), except that if such bequest, legacy or gift contains written instructions as to the specifications, manufacturer or vendor, or source of supply of the goods or services to be provided or performed, such instructions shall be honored, provided that the bequest, legacy or gift is used in a manner consistent with N.J.S. 40A:5-29
L.1999,c.440,s.20.