New Jersey § acts:saved-40 - (3)

§ acts:saved-40. (3)

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

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

parkways in any county in this state in which said act shall be in force, the board

of chosen freeholders in any such county shall, from time to time, in amounts not

to exceed seven hundred thousand dollars ($700,000) in any one year, and in addition

to any bonds heretofore authorized by law, on the requisition of the board of park

commissioners in any such county, in the name of 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 three million five hundred thousand dollars ($3,500,000). Such bonds, and temporary notes or bonds in anticipation thereof, shall be issued

in accordance with an act entitled “An act to authorize and regulate the issuance

of bonds and other obligations and the incurring of indebtedness by county, city,

borough, village, town, township or any municipality governed by an improvement commission,”

approved March twenty-second, one thousand nine hundred and sixteen, and the amendments

thereto and supplements thereof. The proceeds of the sale of said bonds, after deducting expenses for their issue

and sale, said expenses to include the interest on the temporary financing of said

sums, if any, shall be paid over to the said park commission.