40:37-132.1 - Moneys received for lands transferred by counties of first class for state highway purposes
40:37-132.1.Ā Moneys received for lands transferred by counties of first class for state highway purposes
When, in any county of the first class in which there is a county park commission governed by and acting under the provisions of sections 40:37-96 to 40:37-174, inclusive, of the Revised Statutes, such park commission has heretofore transferred and conveyed or shall hereafter transfer and convey parkĀ lands or parkways to the State of New Jersey for State highway purposes, theĀ moneys received in payment therefor shall be applied, in the manner determinedĀ by the board of chosen freeholders of such county, to the retirement of anyĀ outstanding and unpaid county bonds issued for the purpose of the acquisitionĀ and original improvement of such park lands or parkways so transferred orĀ conveyed, and the balance of such moneys, if any, shall be set aside by saidĀ park commission as a capital improvement fund and, with the concurrence of theĀ board of chosen freeholders, be used from time to time by said commission forĀ the acquisition of additional lands for park or parkway purposes and theĀ development and improvement of such lands or parkways or the public parksĀ within the limits of the county.
L.1957, c. 228, p. 777, s. 1, eff. Jan. 14, 1958.
When, in any county of the first class in which there is a county park commission governed by and acting under the provisions of sections 40:37-96 to 40:37-174, inclusive, of the Revised Statutes, such park commission has heretofore transferred and conveyed or shall hereafter transfer and convey parkĀ lands or parkways to the State of New Jersey for State highway purposes, theĀ moneys received in payment therefor shall be applied, in the manner determinedĀ by the board of chosen freeholders of such county, to the retirement of anyĀ outstanding and unpaid county bonds issued for the purpose of the acquisitionĀ and original improvement of such park lands or parkways so transferred orĀ conveyed, and the balance of such moneys, if any, shall be set aside by saidĀ park commission as a capital improvement fund and, with the concurrence of theĀ board of chosen freeholders, be used from time to time by said commission forĀ the acquisition of additional lands for park or parkway purposes and theĀ development and improvement of such lands or parkways or the public parksĀ within the limits of the county.
L.1957, c. 228, p. 777, s. 1, eff. Jan. 14, 1958.