32:2-36 - Bonds as legal investment
32:2-36.Ā Bonds as legal investment
The bonds which may be issued by the Port Authority to provide funds to makeĀ all or any portion of the payment or payments required by an agreement orĀ agreements authorized by section 2 hereof and for purposes incidental theretoĀ are hereby made securities in which all State and municipal officers and bodiesĀ of New Jersey and New York, all banks, bankers, trust companies, savings banks,Ā building and loan associations, saving and loan associations, investmentĀ companies and other persons carrying on a banking business, all insuranceĀ companies, insurance associations and other persons carrying on an insuranceĀ business, and all administrators, executors, guardians, trustees and otherĀ fiduciaries and all other persons whatsoever are now or may hereafter beĀ authorized by either the State of New Jersey or the State of New York to investĀ in bonds or other obligations of such State, may properly and legally investĀ any funds including capital belonging to them or within their control;Ā andĀ said bonds are hereby made securities which may properly and legally beĀ deposited with and shall be received by any State or municipal officer orĀ agency of either the State of New Jersey or the State of New York for anyĀ purpose for which the deposit of bonds or other obligations of such State isĀ now or may hereafter be authorized.
L.1956, c. 16, p. 53, s. 3.
The bonds which may be issued by the Port Authority to provide funds to makeĀ all or any portion of the payment or payments required by an agreement orĀ agreements authorized by section 2 hereof and for purposes incidental theretoĀ are hereby made securities in which all State and municipal officers and bodiesĀ of New Jersey and New York, all banks, bankers, trust companies, savings banks,Ā building and loan associations, saving and loan associations, investmentĀ companies and other persons carrying on a banking business, all insuranceĀ companies, insurance associations and other persons carrying on an insuranceĀ business, and all administrators, executors, guardians, trustees and otherĀ fiduciaries and all other persons whatsoever are now or may hereafter beĀ authorized by either the State of New Jersey or the State of New York to investĀ in bonds or other obligations of such State, may properly and legally investĀ any funds including capital belonging to them or within their control;Ā andĀ said bonds are hereby made securities which may properly and legally beĀ deposited with and shall be received by any State or municipal officer orĀ agency of either the State of New Jersey or the State of New York for anyĀ purpose for which the deposit of bonds or other obligations of such State isĀ now or may hereafter be authorized.
L.1956, c. 16, p. 53, s. 3.