New Jersey § acts:saved-54 - (60)

§ acts:saved-54. (60)

2. That where any sales have been made or shall hereafter be made under the provisions

of the said thirteenth section of the act to which this is a supplement, or any supplement

thereto or any amendment thereof, and the city shall have become or shall become the

purchaser at such sales, and shall hold said lands so purchased and the proceeds thereof,

if any are redeemed, as security for any bonds issued by said city, and said taxes

shall be hereafter adjusted under the provisions of the first section of this act,

then all moneys realized by said city from such adjustment for the years for which

lands shall have been sold for such taxes, shall be and remain a sinking fund for

the redemption and payment of all bonds which may have been issued upon the pledge

of such lands or the proceeds thereof, for the payment of the same.