New Jersey § acts:saved-27 - (14)
Full text of New Jersey New Jersey Statutes § acts:saved-27 — (14), with citation guidance and answers to common questions.
§ acts:saved-27. (14)
14. A sinking fund commission is hereby created, which shall consist of the governor,
the comptroller of the treasury and the state treasurer. The commission shall be governed by such rules and regulations as they may, from
time to time, adopt. The commission shall have the care and management of the sinking fund which is hereby
established and custody and control of all sinking fund moneys, securities, papers
and records appertaining thereto. The state treasurer shall be treasurer of the commission and shall deposit all moneys
received as hereinafter prescribed in such depository or depositories as he shall
determine. He shall give a bond in such sum as shall be determined by the sinking fund commission,
premium for which shall be paid from the tax revenues herein provided. The sinking fund commission shall pay from the sinking funds the interest on all
bonds authorized hereunder as same shall become due and payable. The sinking fund commission shall also pay from the sinking funds all bonds authorized
hereunder as same shall become due and payable, or at an earlier time if funds are
available as herein provided. The sinking fund commission shall invest, reinvest and keep invested all moneys
coming into his control only in the securities or investments authorized by this act. It shall have power to sell or convert into cash such securities or investments
as from time to time may be necessary to provide funds for the payment of said bonds
upon maturity, or for the purpose of protecting the sinking fund from loss or for
bettering the investment. It shall be the duty of the commission to keep accurate and detailed books of account
covering all moneys coming into its custody, and the investment, return on investment,
increase or loss thereon and the expenditure thereof; to make reports as and when
required and to permit access to and inspection of accounts and records by any person
duly authorized by the state. The department of municipal accounts shall audit said sinking fund each year and
its certificate of audit shall accompany the reports.
Frequently Asked Questions About New Jersey § acts:saved-27
What does New Jersey Statutes § acts:saved-27 cover?
Section acts:saved-27 ("(14)") 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 § acts:saved-27?
A common citation format is "New Jersey Statutes § acts:saved-27" (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 § acts:saved-27 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.