New Jersey Statutes 32:12-12. Necessity of counties assuming obligation to pay share of cost
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 32:12-12
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The commission shall not incur any expense or charge for the construction of the bridge or tunnel, except for the preliminary plans and surveys and estimate of cost, until the proper county or municipality with which the bridge or tunnel shall connect, shall be duly authorized and shall have duly entered into a binding obligation with the commission to pay one-half of the cost of constructing the bridge or tunnel and the repair and maintenance of the same.
In addition to the share of the cost of constructing the bridge or tunnel, the cost of maintenance and repair thereof, less such sums as may be received for the use of the bridge or tunnel from tolls or otherwise, shall be paid each year by such counties to the commission.