New Jersey Statutes 40A:2-34. Power of financial officer to sell bonds
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 40A:2-34
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- local unit: means a county or municipality. See New Jersey Statutes 40A:1-1
The governing body, by resolution, may designate a financial officer of the local unit to sell and award bonds in accordance with the advertised terms of public sale. The financial officer making any such sale shall report in writing to the governing body at the next meeting thereof as to the principal amount, interest rate, and maturities of the bonds sold, the price obtained and the name of the purchaser.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.