New Jersey Statutes 40A:2-9. Interim obligations
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Terms Used In New Jersey Statutes 40A:2-9
- local unit: means a county or municipality. See New Jersey Statutes 40A:1-1
After the sale of obligations, and pending the preparation of the definitive obligations, a local unit may issue interim obligations to the purchasers of such obligations. The definitive obligations, when prepared, may be delivered to the holders of such interim obligations in exchange therefor.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.