New Jersey § acts:saved-32 - (13)
Full text of New Jersey New Jersey Statutes § acts:saved-32 — (13), with citation guidance and answers to common questions.
§ acts:saved-32. (13)
13. (a) Bonds issued hereunder when purchased by the sinking fund for investment shall
be deemed outstanding. Bonds issued hereunder when held by the sinking fund may be canceled only from the
surplus in the sinking fund which is over and above the sinking fund requirements. When the amount of sinking fund to the credit of any series of bonds shall be sufficient
together with three and one-half per cent interest compounded annually to equal the
principal of the outstanding bonds of such series at maturity, no further contributions
shall be required to be made thereto except to make good any losses which may occur. Investment of sinking fund moneys shall be limited to the bonds, notes and certificates
of the government of the United States, bonds and negotiable notes of the state of
New Jersey, and of any county, school district or municipality of this state. (b) It shall be lawful for the sinking fund commission to purchase at private sale
the bonds or negotiable notes of any county, school district or municipality of this
state at the time of their original issuance, any laws relating to the public sale
thereof to the contrary notwithstanding. It shall be lawful for the sinking fund commission to purchase at private sale any
bonds issued by the state (including bonds issued hereunder) at the time of their
issuance, any law relating to the public sale thereof notwithstanding. To effectuate such purpose, the issuing officials may, by resolution, set apart
a portion of the bonds of any series at the time of issue and sell same to the sinking
fund and offer the remainder of said bonds to the public.
Frequently Asked Questions About New Jersey § acts:saved-32
What does New Jersey Statutes § acts:saved-32 cover?
Section acts:saved-32 ("(13)") is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § acts:saved-32?
A common citation format is "New Jersey Statutes § acts:saved-32" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § acts:saved-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.