New Jersey Statutes 40:23-6.29. Appropriation of funds; purchase or lease of machinery and equipment; acquisition of lands
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Terms Used In New Jersey Statutes 40:23-6.29
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any county and municipality entering into a contract authorized by this act may appropriate the necessary funds to provide for the carrying out thereof. Any such county entering into any such contract may purchase or lease all machinery and equipment and may acquire by gift, purchase, lease or condemnation all such lands as may be necessary in order to perform the terms thereof.
L.1958, c. 121, p. 602, s. 4.