New Jersey § acts:saved-40 - (12)

§ acts:saved-40. (12)

1. To meet the further expenses to be incurred under the provisions of the act to which

this is a further supplement for the acquisition, development and improvement of parks

and parkways in any county in this state in which the said act shall or may hereafter

be in force, and in which the sum limited in said act and in any supplement thereto

shall have been already appropriated, the board of chosen freeholders of the said

county may from time to time, on the requisition of the said board of park commissioners,

in the name and on the credit of the said county, borrow money by issuing the bonds

of the said county to a sum not exceeding in the aggregate one hundred thousand dollars

($100,000) over and above the total amount, theretofore issued, such bonds to run

for a term not exceeding fifty years, to bear interest at a rate not exceeding four

and one-half per cent per annum, payable semiannually; such bonds shall not be sold

or disposed of at less than their par value, and may be made payable at any place

which the said board of chosen freeholders may determine, and they shall also determine

the form of the bond.