New Jersey § 31:1-7
Full text of New Jersey New Jersey Statutes § 31:1-7, with citation guidance and answers to common questions.
§ 31:1-7.
Notwithstanding the provisions of any other law, statute or regulation applicable
to or constituting any limitation on the maximum rate of interest per annum payable
on bonds, notes or other obligations, or as to annual interest cost to maturity of
money borrowed or received upon issuance of bonds, notes or other obligations, every
county, municipality, school district, body corporate and politic, district or public
authority, agency, commission or other public institution heretofore or hereafter
created by the State, any county, or municipality or by one or more counties or municipalities,
is hereby authorized and empowered to contract to pay interest on or an interest cost
per annum for money borrowed and evidenced by bonds, notes or other obligations without
limit as to the rate of interest per annum payable thereon or as to the annual interest
cost to maturity of the money borrowed.
Frequently Asked Questions About New Jersey § 31:1-7
What does New Jersey Statutes § 31:1-7 cover?
Section 31:1-7 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 31:1-7?
A common citation format is "New Jersey Statutes § 31:1-7" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 31:1-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.