New Jersey § acts:saved-32 - (11)

§ acts:saved-32. (11)

11. The sinking fund commission, as created by section eleven, subdivision (a) of “An

act authorizing the creation of a debt of the state of New Jersey by the issuance

of bonds of the state in an amount not exceeding twenty-eight million dollars for

the purpose of paying the cost of extending the system of state highways by the construction

of bridges and tunnels for vehicular or other traffic across the Delaware and Hudson

rivers, or either of them; providing the ways and means to pay the interest of such

debt and also to pay and discharge the principal thereof; and providing for the submission

of this law to the people at a general election,” passed May eleventh, one thousand

nine hundred and twenty, is hereby constituted the sinking fund commission for the

creation of a sinking fund for the purpose of receiving, holding, investing, reinvesting

and disbursing the moneys for the payment of the interest and the cost of amortization

of the bonds issued hereunder. Except as hereafter specifically changed the requirements and regulations as to

the sinking fund commission and the sinking fund as provided for under section eleven,

subdivision (a) and section thirteen of said act shall apply to the establishment

of such sinking fund, the receipt, custody, investment, reinvestment and disbursement

of revenues as provided in such sections shall apply equally and fully to bonds issued

hereunder.