40:68A-44. Authority to issue bonds; bond resolution
For the purpose of raising funds to pay the cost of any part of its port system or for the purpose of funding or refunding any bonds, a municipal port authority shall have power to authorize or provide for the issuance of bonds pursuant to this act, by a resolution (in this act sometimes referred to as "bond resolution" ) which shall:
(1) describe in brief and general terms sufficient for reasonable identification the port system or part thereof (in this act sometimes called "project" ) to be constructed or acquired, or describe the bonds which are to be funded or refunded (if any);
(2) state the cost or estimated cost of the project (if any); and
(3) provide for the issuance of the bonds in accordance with section 17 of this act.
L.1960, c. 192, p. 817, s. 16, eff. Feb. 15, 1961.
Section: Previous 40-68a-38 40-68a-39 40-68a-40 40-68a-41 40-68a-42 40-68a-43 40-68a-43.1 40-68a-44 40-68a-45 40-68a-46 40-68a-47 40-68a-48 40-68a-49 40-68a-50 40-68a-51 Next
Last modified: October 11, 2016