New Jersey § 32:1-142
Full text of New Jersey New Jersey Statutes § 32:1-142, with citation guidance and answers to common questions.
§ 32:1-142.
In all cases where the port authority has raised or shall hereafter raise moneys for
the establishment, acquisition, construction or effectuation of terminal and/or transportation
facilities by the issue and sale of bonds legal for investment as herein defined and
limited, the surplus revenues received by or accruing to the port authority from or
in connection with the operation of such terminal and/or transportation facilities
built in whole or in part by the proceeds of the sale of such bonds, shall be pooled
and applied by it to the establishment and maintenance of a general reserve fund in
an amount equal to one-tenth ( 1 / 10 ) of the par value of all bonds legal for investment as herein defined and limited,
issued by the port authority and currently outstanding. The moneys in the said general reserve fund may be pledged in whole or in part by
the port authority as security for or applied by it to the repayment with interest
of any moneys which it has raised or may hereafter raise upon any bonds, legal for
investment as herein defined and limited, and made and issued by it for any of its
lawful purposes; and the said moneys may be applied by the port authority to the
fulfillment of any other undertakings which it has assumed or may or shall hereafter
assume to or for the benefit of the holders of any of such bonds. Any surplus revenues not required for the establishment and maintenance of the aforesaid
general reserve fund shall be used for such purposes as may hereafter be directed
by the two said states.
Frequently Asked Questions About New Jersey § 32:1-142
What does New Jersey Statutes § 32:1-142 cover?
Section 32:1-142 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 § 32:1-142?
A common citation format is "New Jersey Statutes § 32:1-142" (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 § 32:1-142 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.