Bond, note, obligation deemed asset of municipality
54:5-113.3. Bond, note, obligation deemed asset of municipality
3. To the extent of its value, the bond, note or other obligation referred to in section 2 of P.L.1993, c.113 (C.54:5-113.1) shall be deemed an asset of the municipality and, as such, be available to the municipality for appropriate use, including sale, publicly or privately, as approved by a vote of two-thirds of the full governing body of the municipality.
L.1993,c.325,s.3.
This is the verbatim text of N.J.S.A. 54:5-113.3, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.