New Jersey § acts:saved-27 - (64)

§ acts:saved-27. (64)

2. If the board of chosen freeholders of any such county should consider that to place

the whole amount of the moneys required and authorized under the first section of

this act in the tax levy for one fiscal year would be too burdensome on the taxpayers

of such county, then it shall and may be lawful for such board to issue temporary

loan bonds, payable in one, two and three years from their date, so that one-third

thereof will fall due and become payable each year; which bonds shall bear interest

at not exceeding five per cent per annum, and shall be executed in the form and in

the manner that such bonds are usually executed, and such bonds may be sold either

at public or private sale, at the discretion of the board, but for not less than par

and accrued interest.