40A:2-9 - Interim obligations
40A:2-9.Ā Interim obligations
After the sale of obligations, and pending the preparation of the definitiveĀ obligations, a local unit may issue interim obligations to the purchasers ofĀ such obligations.Ā The definitive obligations, when prepared, may be deliveredĀ to the holders of such interim obligations in exchange therefor.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
After the sale of obligations, and pending the preparation of the definitiveĀ obligations, a local unit may issue interim obligations to the purchasers ofĀ such obligations.Ā The definitive obligations, when prepared, may be deliveredĀ to the holders of such interim obligations in exchange therefor.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.