New Jersey § acts:saved-32 - (1)

§ acts:saved-32. (1)

1. The state treasurer, acting on behalf of the state of New Jersey, shall forthwith

deliver to the teachers' pension and annuity fund a sufficient number of bonds of

the Delaware River Joint Commission at par value as will liquidate the amount borrowed

from said teachers' pension and annuity fund under the provisions of chapter two hundred

twelve of the Laws of one thousand nine hundred thirty-two, with interest as provided

for in said statute, and the amount certified by the teachers' pension and annuity

fund to the comptroller of the treasury of this state, as the annual appropriation

payable July first, one thousand nine hundred and thirty-three, in accordance with

the provisions of section two hundred fifty-three, of chapter eighty, P.L. one thousand

nine hundred and nineteen, as amended by chapter one hundred sixty-seven, P.L. one

thousand nine hundred and twenty-five, with interest (at four per cent per annum)

from July first, one thousand nine hundred thirty-three; and shall thereafter deliver

to the highway extension sinking fund a sufficient number of said bonds to meet in

whole or in part the requirements of the said highway extension sinking fund, and

the balance of said bonds, if any, shall be delivered to the treasurer of the state

of New Jersey to await the disposition of the legislature. The bonds so delivered to the teachers' pension and annuity fund are hereby made

legal investments for said fund. All acts or parts of acts inconsistent herewith are hereby repealed to the extent

of such inconsistencies.