New Jersey Revised Statutes § 40:60-12 - Purchase Of Lands Adjoining Trust Lands; Bonds; Use Of Income And Proceeds

40:60-12. Purchase of lands adjoining trust lands; bonds; use of income and proceeds
Any society or organization designated in section 40:60-10 of this title may sell to the municipality any lands owned by it and adjoining the lands conveyed in trust as provided in said section 40:60-10. The municipality may purchase such adjoining lands for the purposes aforesaid, and may issue bonds not to exceed ten thousand dollars in payment therefor; provided, that the interest accruing upon said bonds shall be used and devoted for the purpose of maintaining said trust and carrying out the purposes thereof.

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Last modified: October 11, 2016