New Jersey § 52:9q-13

§ 52:9q-13.

By resolution, the corporation shall have power to incur indebtedness, borrow money

and issue its bonds for the purposes stated in section 7 of P.L.2009, c. 252 ( C.52:9Q-13.1 ); provided, however, that the corporation shall not issue more than $100 million

of bonds in any one year. Except as may otherwise be expressly provided by the corporation, every issue of

its bonds shall be general obligations of the corporation payable from any revenues

or moneys of the corporation or any other contracted with or agreed upon source, subject

only to any agreements with the holders of particular bonds or notes pledging any

particular revenues or moneys, provided, however, that notwithstanding anything to

the contrary contained herein or in any other law or regulation, any bonds, notes

or other obligations issued by the corporation shall not have a pledge of an annual

appropriation as the ways and means to pay the principal of, redemption premium if

any, and interest on such bonds, notes or other obligations. Bonds shall be authorized by resolution and may be issued in one or more series

and shall bear that date or those dates, mature at that time or those times not exceeding

40 years from the date thereof, bear interest at a rate or rates, be in that denomination

or those denominations, be in such form, either coupon or registered, carry such conversion

or registration privileges, have such rank or priority, be executed in such manner,

be payable from such sources in such medium of payment at such place or places within

or without the State, and be subject to such terms of redemption (with or without

premium) as the resolution may provide. Bonds of the corporation may be sold by the corporation at public or private sale

at such price or prices as the corporation shall determine.