New Jersey § acts:saved-27 - (56)

§ acts:saved-27. (56)

14. It shall be the duty of the board of chosen freeholders of said county, in order

to provide the funds necessary for the improvements upon said road herein authorized,

to issue from time to time the bonds of said county, said bonds to run for five years,

and to bear interest at not exceeding four per cent per annum, payable one-half yearly;

said bonds shall in all other respects be similar to the bonds heretofore authorized

under the provisions of the act to which this is a further supplement; so much of

the cost of the assessment as shall be laid upon the county at large by said commissioners

and confirmed by said circuit court shall be raised by said county by taxation in

the same method as other county taxes are levied and raised, and the amount of said

taxes when collected shall be paid into the sinking fund of said county for the extinguishment

of said bonds; all moneys paid by the proper officer of the various municipalities

to the county collector as hereinbefore provided, shall be likewise placed in said

sinking fund for the extinguishment of said bonds; the interest upon said bonds shall

be raised by taxation annually in the same manner as other county taxes are levied

and raised.