State Codes and Statutes

Statutes > New-jersey > Title-18a > Section-18a-13 > 18a-13-31

18A:13-31.  Authority to purchase and sell property of constituent district
    Whenever at an election held to create or enlarge a regional district and at  that or a subsequent election a resolution for the purchase of real or personal  property or both from one or more of the constituent districts of such regional  district and the issuance of bonds of the newly created or enlarged regional  district shall be legally adopted and approved by referendum as part of the  proposal to create or enlarge such regional district, the board or boards of  education of said constituent district or districts shall have power to sell  and convey said property if it is no longer useful to such district at the  price and on the terms designated in the resolution, and the board of education  of the regional district as created or enlarged, when organized, shall have  power to purchase the same accordingly at private sale, and to issue and sell  such bonds with such maturities, and in such manner as is prescribed by law.
 
L.1967, c.271.