State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-5 > 54-5-113-3

54:5-113.3.  Bond, note, obligation deemed asset of municipality 
    3.   To the extent of its value, the bond, note or other obligation referred to in section 2 of P.L.1993, c.113 (C.54:5-113.1) shall be deemed an asset of the municipality and, as such, be available to the municipality for appropriate use, including sale, publicly or privately, as approved by a vote of two-thirds of the full governing body of the municipality. 

   L.1993,c.325,s.3.