reglab/housing_qa huggingface dataset:
NJ Rev Stat § 40A:2-14 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-14 - Local improvement obligations

40A:2-14. Local improvement obligations  a. Any bond ordinance to finance any local improvement, in addition to other required provisions, shall contain: 1. a determination of the amount or the percentage of the cost which the local unit will contribute to the payment of the cost of the local improvement; 2. a statement of the number of annual installments in which the special assessments may be paid, not exceeding 20, or the average thereof if more than 1 local improvement is being financed; and 3. a statement of the estimated maximum amount of the special assessments. b. Before or after confirmation of special assessments, a local unit may authorize and issue obligations to finance a local improvement, except that 1. a local unit may not issue bonds to finance its share of the cost of a local improvement in excess of the amount or percentage of contribution; 2. bonds to finance the cost of a local improvement to be assessed against properties may not be issued in excess of the stated estimated maximum amount of special assessments, or the amount of special assessments then confirmed, unpaid and not delinquent. c. Bonds to finance that part of the cost of a local improvement which is to be assessed on property shall not be issued to finance any other additional purpose and shall include in the title thereof the word "assessment" . L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1983, c. 169, s. 2, eff. May 3, 1983.
NJ Rev Stat § 40A:2-15 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-15 - Power to make special covenants in bond

40A:2-15. Power to make special covenants in bond  Any bond ordinance to finance any cost or expense of a municipal public utility, or any ordinance amendatory thereof or supplemental thereto adopted prior to the issuance of obligations, may contain the following covenants with the holders of such obligations which shall be observed and performed by the local unit, notwithstanding the provisions of this or any other law: a. As to the use and disposition of revenues derived or to be derived from the operation of the whole or any part of any municipal public utility, including any improvements thereto or extensions thereof thereafter constructed or acquired, whether said obligations are authorized to finance construction, improvement, enlargement, reconstruction, extension or acquisition of such or any other municipal public utility; b. Pledging to the punctual payment of the principal of and interest on such obligations, all or any part of such revenues; c. As to the setting aside out of such revenues of 1 or more reserve funds, and the regulation and disposition thereof; d. As to the fixing and collection of such rates, rentals and other charges for connection with or the use of any such municipal public utility, including any improvements thereto or extensions thereof thereafter constructed or acquired as will annually produce revenues sufficient to provide for all or any lesser part described in said ordinance of the following: 1. expenses of operation, maintenance and repair of such utility and any other such utilities, 2. payment of the principal of and interest on said obligations, 3. such reserve funds as may have been provided for in said ordinance, 4. payment of any mortgage or mortgages subject to which such utility or any other such utilities, or any part thereof may have been acquired, and 5. payment of any obligations having a lien on the revenues of such utility or any other such utilities, or any part thereof prior to or on a parity with the lien of such obligations; e. As to the procedure, if any, by which the terms of any covenant with the holders of such obligations may be amended or abrogated, the amount of obligations the holders of which must consent thereto and the manner in which such consent may be given. Such obligations may contain such recitals of or reference to any such covenants as any resolution determining their form may provide. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-16 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-16 - Matters not in bond ordinance

40A:2-16. Matters not in bond ordinance  All matters not required to be contained in the bond ordinance may be determined by subsequent resolutions passed by the recorded affirmative votes of a majority of the full membership of the governing body. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-18 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-18 - Bond ordinance, effective date.

40A:2-18 Bond ordinance, effective date.  40A:2-18. A bond ordinance shall take effect 20 days after the first publication of the ordinance or of a summary thereof after final adoption. A bond ordinance which authorizes obligations to fund, refund, renew, extend or retire obligations issued or authorized pursuant to this chapter, or notes or bonds issued or authorized pursuant to any act of which this chapter is a revision shall not be subject to referendum. L.1960, c.169, s.1; amended 2000, c.126, s.15.
NJ Rev Stat § 40A:2-19 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-19 - Publications

40A:2-19 Publications  40A:2-19. Publications required by this chapter shall, in the case of a municipality, be in a newspaper published and circulating in the municipality, if there be one, and if not, in a newspaper published in the county and circulating in the municipality. In the case of a county, publications shall be in a newspaper published at the county seat, if there be one, and if not, in a newspaper published and circulating in the county. For the purposes of this section, a newspaper shall not be deemed to be published during any period of time in which the publication of such newspaper shall be interrupted by any involuntary suspension of publication resulting from loss, destruction, mechanical or electric failure of typesetting equipment or printing presses or the unavailability due to conditions beyond the control of the publisher, of paper or other materials and supplies necessary for operation, or resulting from a labor dispute with a recognized labor union. L.1960, c.169, s.1; amended 1970, c.318.
NJ Rev Stat § 40A:2-20 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-20 - Expenses included in cost

40A:2-20. Expenses included in cost  The cost of an improvement or property may include interest on obligations until the end of the fiscal year in which the obligations are issued or until 6 months after the completion of construction or acquisition, and architect's fees, accounting, engineering and inspection costs, legal expenses, costs of authorizing, selling and issuing obligations, preliminary planning, test and survey expenses, and a reasonable proportion of the compensation and expenses of employees of a local unit in connection with the construction or acquisition of such improvement or property. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-21 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-21 - Minimum period of usefulness

40A:2-21. Minimum period of usefulness  No local unit shall authorize obligations for any improvement or purpose having a period of usefulness of less than 5 years. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-22.1 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-22.1 - Request for determination of period of usefulness.

40A:2-22.1 Request for determination of period of usefulness.  18. A local unit may request, in a form and manner determined by rule and regulation of the Local Finance Board, that the Director of the Division of Local Government Services in the Department of Community Affairs determine a period of usefulness for any capital improvement or property not included in N.J.S.40A:2-22, provided that the maximum period of usefulness so determined shall not exceed 15 years. L.2007, c.62, s.18.
NJ Rev Stat § 40A:2-24 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-24 - Form of obligations

40A:2-24. Form of obligations  Notes may be issued payable to bearer, with interest payable to bearer or on presentation for endorsement or may be in registered form. Notes payable to bearer may be made subject to registration and the principal of and interest on notes so registered shall be payable to the registered owner. Bonds may be issued either in coupon or registered form. Bonds in coupon form may contain provision for registration as to principal only and as to both principal and interest. Bonds issued in fully registered form or in coupon form with provision for registration as to both principal and interest may contain provision for conversion into bonds in coupon form at the request and expense of the registered owner or his duly authorized attorney or legal representative. Any obligations may be issued subject to redemption prior to maturity with or without premium, or at such redemption price or prices and under such terms and conditions as may be fixed by resolution of the governing body. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-24.1 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-24.1 - Submission of financial cost estimate for projects not funded by trust.

40A:2-24.1 Submission of financial cost estimate for projects not funded by trust.  3. A local unit that does not finance an environmental infrastructure project with funding provided by the New Jersey Environmental Infrastructure Trust shall submit the financing cost estimate provided by the New Jersey Environmental Infrastructure Trust pursuant to section 2 of P.L.2017, c.71 (C.58:11B-5.2) together with the supplemental debt statement that is submitted to the Director of the Division of Local Government Services in the Department of Community Affairs pursuant to N.J.S.40A:2-42.  As used in this section, "environmental infrastructure project" shall have the same meaning as provided in section 3 of P.L.1985, c.334 (C.58:11B-3).  L.2017, c.71, s.3.
NJ Rev Stat § 40A:2-25 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-25 - Execution and delivery of obligations

40A:2-25. Execution and delivery of obligations  Obligations shall be executed in the name of the local unit by the manual or facsimile signatures of such officials, including a financial officer, as may be designated by resolution, or if none be designated, of the director of the board of chosen freeholders of a county or the mayor, or other executive officer of the municipality and of a financial officer of the local unit, and shall be under the seal of the local unit affixed, imprinted or reproduced thereon and attested by the manual signature of the clerk or deputy clerk. Coupons attached to any obligation shall be authenticated by the facsimile or manual signature of the financial officer whose manual or facsimile signature appears upon the obligation. Delivery of obligations fully executed by the officers holding office at the time of such execution shall be valid, notwithstanding any change in such officers or in the seal occurring after such execution. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1983, c. 370, s. 1, eff. Oct. 27, 1983.
NJ Rev Stat § 40A:2-27 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-27 - Sale of bonds, methods.

40A:2-27 Sale of bonds, methods.  40A:2-27. a. All bonds shall be sold at public sale upon the submission of sealed bids or through the submission of electronic proposals, except that bonds may be sold at private sale without any previous public offering: (1) if constituting all or part of an authorized issue of $1,000,000 or less, or (2) if sold to any board, body, agency, commission, instrumentality, district, authority or political subdivision of any local unit, or of the State, or of the Federal Government. b. (1) If no legally acceptable bid is received at advertised public offering pursuant to subsection a. of this section, such bonds or any of them may be sold at private sale within 30 days after the advertised date for public bidding, provided, however, that no bonds shall contain substantially different provisions from those specified in said notice. (2) Any purchaser of bonds at private sale, other than a public body, shall deposit a certified or cashier's or treasurer's check drawn upon a bank or trust company in an amount equal to 5% of the amount of bonds purchased and such amount shall be applied as in the case of a deposit made at public sale. (3) Any private sale of bonds shall be made or confirmed by resolution of the governing body adopted by not less than a 2/3 vote of the full membership thereof, setting forth the date, maturities, interest rate and price of the bonds and the name of the purchaser. c. If the governing body determines to conduct the public sale through the submission of electronic proposals, such electronic proposals shall be submitted in the form of open or closed auctions conducted through a nationally recognized electronic securities bidding service and in accordance with such rules as may be promulgated by the board. The local finance board may adopt rules in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), regulating the terms and conditions of the submission of electronic proposals. L.1960, c.169, s.1; amended 1981, c.111, s.1; 2003, c.15, s.4.
NJ Rev Stat § 40A:2-28 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-28 - Sale of bond anticipation notes or capital notes

40A:2-28. Sale of bond anticipation notes or capital notes  All bond anticipation notes or capital notes may be sold at private sale pursuant to resolution of the governing body, or by a financial officer of the local unit expressly designated by resolution to sell such notes. The financial officer making any such sale shall report in writing to the governing body at the next meeting thereof as to the principal amount, interest rate, and maturities of the notes sold, the price obtained and the name of the purchaser. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-29 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-29 - Minimum price for obligations.

40A:2-29 Minimum price for obligations.  40A:2-29. Obligations sold pursuant to subsection d. of N.J.S.40A:2-32 shall be sold at not less than par value plus any interest accrued to the date of delivery. No other obligations shall be sold for less than 99% of par value and interest accrued to date of delivery unless the local unit has obtained the approval of the director, which approval may be subject to such conditions as the director deems necessary and appropriate. L.1960, c.169, s.1; amended 2003, c.15, s.5.
NJ Rev Stat § 40A:2-30 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-30 - Advertisement of public sale of bonds.

40A:2-30 Advertisement of public sale of bonds.  40A:2-30. a. A notice of public sale of bonds containing the provisions described in subsection a. of N.J.S.40A:2-31 shall be advertised at least once at least seven days prior thereto in a newspaper qualified for publication of a bond ordinance of the local unit. A summary of the notice of public sale of bonds as provided for in subsection b. of N.J.S.40A:2-31 shall be advertised at least once at least seven days prior thereto in a nationally recognized local government bond marketing publication or electronic information service carrying municipal bond notices and devoted primarily to financial news or the subject of state and municipal bonds. b. The governing body, may, by resolution, allow or otherwise delegate to a finance officer the authority to postpone a public sale without readvertisement provided that the notice pursuant to subsection a. of this section contained precise information concerning the postponement and rescheduling procedure. The postponement and rescheduling procedure shall provide that a public sale may be postponed upon not less than 24 hours' notice, and that if the public sale is postponed, it may be recommenced upon not less than 48 hours' notice without further notice of sale. A public sale may not be postponed for more than 60 days without readvertisement. L.1960, c.169, s.1; amended 1992, c.178, s.3; 2003, c.15, s.6.
NJ Rev Stat § 40A:2-31 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-31 - Contents of notice.

40A:2-31 Contents of notice.  40A:2-31. a. A notice of public sale of bonds required to be advertised pursuant to N.J.S.40A:2-30 shall set forth: (1) the principal amount, date, denomination and maturities, and authorization for any adjustments to the maturities pursuant to subsection g. of N.J.S.40A:2-26 of the bonds offered for sale; (2) the rate or rates of interest or maximum rate or rates of interest to be borne by the bonds and the method of calculation of interest cost pursuant to subsection e. of N.J.S.40A:2-32; (3) postponement provisions and other terms and conditions of such public sale; (4) the type of sale to be conducted, through the submission of either sealed or electronic proposals; and (5) such other provisions as may be determined by the governing body. b. A summary of the notice of public sale of bonds required to be advertised pursuant to N.J.S.40A:2-30 shall set forth: (1) the principal amount, date, denomination and maturities of the bonds offered for sale; (2) the rate or rates of interest or maximum rate or rates of interest to be borne by the bonds;  (3) a reference to where additional terms and conditions of the public sale may be obtained; and (4) the type of sale to be conducted, through the submission of either sealed or electronic proposals. L.1960, c.169, s.1; amended 1992, c.178, s.4; 2003, c.15, s.7.
NJ Rev Stat § 40A:2-33 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-33 - Sale of bonds at 1 time or in installments

40A:2-33. Sale of bonds at 1 time or in installments  Any issue of bonds may be sold at 1 time or in installments at different times. The maturities of an installment of bonds offered for sale when combined with all maturities of the issue previously sold, shall be such as to comply with requirements as to maturities of a single issue of bonds. Any unsold part of an issue or installment may be sold notwithstanding that the maturities thereof, when considered alone, do not comply with such requirements. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-34 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-34 - Power of financial officer to sell bonds

40A:2-34. Power of financial officer to sell bonds  The governing body, by resolution, may designate a financial officer of the local unit to sell and award bonds in accordance with the advertised terms of public sale. The financial officer making any such sale shall report in writing to the governing body at the next meeting thereof as to the principal amount, interest rate, and maturities of the bonds sold, the price obtained and the name of the purchaser. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-36 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-36 - Lost, destroyed or defaced obligations

40A:2-36. Lost, destroyed or defaced obligations  Lost, destroyed or defaced obligations shall be reissued in the form and tenor of the original obligations upon supplying to the satisfaction of the governing body (a) proof of ownership, (b) proof of loss or destruction or the defaced or partially destroyed obligations, (c) adequate surety bond, and (d) payment of cost of preparation of new obligations. The new obligations shall be issued pursuant to resolution of the governing body setting forth the written request of the holder or owner or his authorized attorney or legal representative, of the lost, destroyed or defaced obligations and the date, maturity, interest rate, denomination and numbers of such obligations and the amount and term of the surety bond. The new obligations shall be signed by such officers in office at the time of the issuance or the authorization thereof, and the new coupons, if any, shall be authenticated by the facsimile signature of such present or former financial officer as the governing body may designate. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-37 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-37 - Contracts to be financed by obligations

40A:2-37. Contracts to be financed by obligations  The governing body shall not make any contract under which payments are to be financed pursuant to a bond ordinance until such bond ordinance shall be effective. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-38 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-38 - Prohibited agreements

40A:2-38. Prohibited agreements  In the issuance or sale of obligations, it shall be unlawful for the governing body or any member thereof or any official: a. To pay or agree to pay, directly or indirectly, any bonus, commission, fee or other compensation or consideration for the issuance or for the sale of obligations, and any amount so paid may be recovered for the local unit; b. To make any agreement with any purchaser or bidder, or his representative, regarding the deposit or disposition or any moneys received or to be received from such sale and every such agreement shall be void; c. To make any agreement pertaining to the sale of obligations which contains provisions as to any other matter, and such sale and any such agreement shall be void; d. To make any agreement or "service contract" with respect to publication of notice of sale and printing of bonds or notes, the providing of a legal opinion or for any of such services, whether or not accompanied by an offer to bid for or purchase obligations. Any such agreement or contract shall be void, and any amount so paid may be recovered for the local unit; except, however, agreements made directly with a newspaper, bond printer or an attorney licensed to practice law in the State in which he has his office. A municipal bond dealer, banker, or financial expert may be engaged or employed as a financial advisor to provide financial services in connection with the sale of obligations, including the preparation of a bidding circular or prospectus. The financial advisor may bid for obligations offered by the issuer at public sale. The financial advisor shall not purchase any such obligations at any private sale, but any such purchase shall not affect the validity of the obligations, and the local unit shall recover any compensation and profit resulting therefrom to such financial advisor. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1981, c. 268, s. 1, eff. Aug. 24, 1981.
NJ Rev Stat § 40A:2-38.1 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-38.1 - Attorneys; compensation; services on issuance of bonds

40A:2-38.1. Attorneys; compensation; services on issuance of bonds  No county, municipality or other political subdivision of the State or any board, commission or agency thereof, shall compensate an attorney for services rendered in connection with the issuance of bonds other than at a reasonable rate agreed on prior to the rendering of the services. L.1973, c. 114, s. 1.