State Codes and Statutes
Statutes > New-jersey > Title-40 > Section-40-61 > 40-61-22-540:61-22.5. Use of proceeds of sale or lease
The proceeds of the sale or leasing of any property under this act shall be used for the retiring of any bonds issued for the purchase or improvement of such property or to reduce taxes.
L.1938, c. 87, p. 206, s. 4, eff. April 4, 1938.
