New Jersey § 40a:2-12
Full text of New Jersey New Jersey Statutes § 40a:2-12, with citation guidance and answers to common questions.
§ 40a:2-12.
A bond ordinance shall contain in substance the following: a. (1) an authorization for the issuance of obligations, stating in brief and general terms
sufficient for reasonable identification the purpose or purposes for which the obligations
are to be issued, a statement of the estimated maximum amount of bonds or notes to
be issued, and the estimated cost of such purpose or purposes, but related improvements
or properties may be treated as one improvement or property; or (2) an authorization for the assumption by the local unit of the obligations of the
authority sought to be dissolved pursuant to section 20 of P.L.1983, c. 313 ( C.40A:5A-20 ) for which the local unit is not a guarantor ; b. a determination of the period of usefulness of the purpose within the limitations
of this chapter or, if issued for several purposes, a determination of the average
period of usefulness, taking into consideration the respective amounts of obligations
authorized for the said several purposes; c. a determination that (1) the supplemental debt statement has been filed in the
office of the clerk, (2) such statement shows that the gross debt as defined in this
chapter is increased by authorization of such obligations by $or is not increased,
and (3) the obligations authorized by the bond ordinance will be within debt limitations
prescribed by this chapter, or the issuance thereof is permitted by an exception to
said limitations naming the particular section, paragraph or law providing such exception; d. a statement of the aggregate amount for items of expense permitted under 40A:2-20.
Frequently Asked Questions About New Jersey § 40a:2-12
What does New Jersey Statutes § 40a:2-12 cover?
Section 40a:2-12 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 § 40a:2-12?
A common citation format is "New Jersey Statutes § 40a:2-12" (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 § 40a:2-12 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.