New Jersey § acts:saved-32 - (5)

§ acts:saved-32. (5)

5. Said bonds may be issued at one time, or from time to time, as money is required

for the purpose for which they are authorized, as certified by the officials, commission,

board or body, having charge or control of the expenditure of such moneys. If issued from time to time, the bonds of each installment shall constitute a separate

series, the first series being marked “Series A, of 1924”, and each succeeding series

being marked in a similar manner with one of the letters of the alphabet succeeding

A. The bonds of each series shall be dated as of the first day of January or the first

day of July next preceding the issuance thereof, and shall mature in thirty years

from their date. The bonds may be made subject to previous call for redemption at such time or times

and after such notice as may be therein provided. Each series of bonds shall bear such rate of interest, not exceeding six per cent

per annum as may be determined by the issuing officials. Such interest shall be payable on the first days of January and July of each year

until the bonds shall be paid. Any expense incurred by the secretary of state or the issuing officials for advertising,

engraving, printing, clerical, legal or other services necessary to carry out the

duties imposed upon them by the provisions of this act, shall be paid from the proceeds

of the sale of bonds by the state treasurer upon the warrant of the comptroller of

the treasury in the same manner as other obligations of the state are paid.