32:1-130 - Bonds as legal investments - New-jersey Statutes

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-130

32:1-130. Bonds as legal investments
The bonds or other securities or obligations which may be issued or incurred by the Port Authority pursuant to this act or as security for which there may be pledged the tolls and other revenues or any part thereof of any vehicular bridge or tunnel (including the said Holland Tunnel and the said Midtown Hudson Tunnel) now or hereafter authorized by the 2 said States or both so issued or incurred and so secured, are hereby made securities in which all State and municipal officers and bodies, all banks, bankers, trust companies, savings banks, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the State, may properly and legally invest any funds, including capital, belonging to them or within their control; and said bonds or other securities or obligations are hereby made securities which may properly and legally be deposited with and shall be received by any State or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of this State is now or may hereafter be authorized.

L.1931, c. 4, s. 13, p. 25. Amended by L.1956, c. 156, p. 631, s. 4.

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-130

32:1-130. Bonds as legal investments
The bonds or other securities or obligations which may be issued or incurred by the Port Authority pursuant to this act or as security for which there may be pledged the tolls and other revenues or any part thereof of any vehicular bridge or tunnel (including the said Holland Tunnel and the said Midtown Hudson Tunnel) now or hereafter authorized by the 2 said States or both so issued or incurred and so secured, are hereby made securities in which all State and municipal officers and bodies, all banks, bankers, trust companies, savings banks, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the State, may properly and legally invest any funds, including capital, belonging to them or within their control; and said bonds or other securities or obligations are hereby made securities which may properly and legally be deposited with and shall be received by any State or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of this State is now or may hereafter be authorized.

L.1931, c. 4, s. 13, p. 25. Amended by L.1956, c. 156, p. 631, s. 4.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-130

32:1-130. Bonds as legal investments
The bonds or other securities or obligations which may be issued or incurred by the Port Authority pursuant to this act or as security for which there may be pledged the tolls and other revenues or any part thereof of any vehicular bridge or tunnel (including the said Holland Tunnel and the said Midtown Hudson Tunnel) now or hereafter authorized by the 2 said States or both so issued or incurred and so secured, are hereby made securities in which all State and municipal officers and bodies, all banks, bankers, trust companies, savings banks, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the State, may properly and legally invest any funds, including capital, belonging to them or within their control; and said bonds or other securities or obligations are hereby made securities which may properly and legally be deposited with and shall be received by any State or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of this State is now or may hereafter be authorized.

L.1931, c. 4, s. 13, p. 25. Amended by L.1956, c. 156, p. 631, s. 4.