48:12-134.Ā  Borrowing money;Ā  bonds secured by mortgage In all cases of merger or consolidation under this article, the consolidatedĀ  or acquiring company may borrow an amount of money, sufficient to cover all theĀ  indebtedness of the companies united by such consolidation or merger andĀ  complete, extend, repair, improve and equip its railroad and furnish allĀ  necessary lands, personal property, engines, cars and equipment, and may issueĀ  bonds for the money borrowed secured by mortgage on its corporate property andĀ  franchises or any part thereof.

Amended by L.1948, c. 317, p. 1271, s. 9;Ā  L.1962, c. 198, s. 146.
Ā