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New Jersey Municipalities And Counties Laws Section 40:3-1. Definitions.

Legal Research Home > New Jersey Lawyer > Municipalities and Counties > New Jersey Municipalities And Counties Laws Section 40:3-1. Definitions.

For the purposes of this chapter, bonds which are payable in installments in successive years during at least three-quarters of the period covered by the term of the whole issue, shall be known as "serial bonds" . All other bonds shall be known as "term bonds" .

The term "governing body" as used in this chapter means the board or body having charge and control of the finances of the municipality, county or school district.

Last modified: October 22, 2006