reglab/housing_qa huggingface dataset:
NJ Rev Stat § 40:68A-7 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-7 - Port authority as political subdivision; powers

40:68A-7. Port authority as political subdivision; powers  Every port authority shall be a public body politic and corporate constituting a political subdivision of the State established as an instrumentality exercising public and essential governmental functions to provide for the public welfare and shall have perpetual succession and have the following powers: (1) To adopt and have a common seal and to alter the same at pleasure; (2) To sue and to be sued; (3) In the name of the port authority and on its behalf, to acquire, hold, use and dispose of its service charges and other revenues and other moneys; (4) In the name of the port authority but for the local unit or units, to acquire, hold, use and dispose of other personal property for the purposes of the port authority; (5) In the name of the port authority but for the local unit or units, to acquire by purchase, gift, condemnation or otherwise, real property and easements therein, necessary or useful and convenient for the purposes of the port authority, and subject to mortgages, deeds of trust or other liens, or otherwise and to hold and to use the same, and to dispose of property so acquired no longer necessary for the purposes of the port authority; (6) To provide for and secure the payment of any bonds and the rights of the holders thereof, and to purchase, hold and dispose of any bonds; (7) To accept gifts or grants of real or personal property, money, material, labor or supplies for the purposes of the port authority, and to make and perform such agreements and contracts as may be necessary or convenient in connection with the procuring, acceptance or disposition of such gifts or grants; (8) To enter on any lands or premises for the purposes of the port authority; (9) To make and enforce bylaws or rules and regulations for the management and regulation of its business and affairs and for the use, maintenance and operation of the port facilities and any other of its properties, and to amend the same; (10) To do and perform any acts and things authorized by this act under, through or by means of its own officers, agents and employees, or by contracts with any persons; and (11) To enter into any and all contracts, execute any and all instruments, and do and perform any and all acts or things necessary, convenient or desirable for the purposes of the port authority or to carry out any power expressly given in this act subject to P.L.1971, c. 198 "Local Public Contracts Law" (C. 40A:11-1 et seq.). L.1948, c. 349, p. 1387, s. 7, eff. Sept. 1, 1948. Amended by L.1975, c. 96, s. 14, eff. May 16, 1975.
NJ Rev Stat § 40:68A-7.1 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-7.1 - Audit of accounts of port authority annually; filing

40:68A-7.1. Audit of accounts of port authority annually; filing  It shall be the duty of every "port authority," created pursuant to the act to which this act is a supplement, to cause an annual audit of the accounts of the authority to be made and filed with the authority, and for this purpose the authority shall employ a registered municipal accountant of New Jersey or a certified public accountant of New Jersey. The audit shall be completed and filed with the authority within four months after the close of the fiscal year of the authority and a certified duplicate copy thereof shall be filed with the Director of the Division of Local Government in the Department of the Treasury within five days after the original report is filed with the authority. L.1952, c. 305, p. 1022, s. 1, eff. June 12, 1952.
NJ Rev Stat § 40:68A-7.2 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-7.2 - Certified copies of bond resolutions and bond proceedings; filing

40:68A-7.2. Certified copies of bond resolutions and bond proceedings; filing  Every such "port authority" shall file a certified copy of every bond resolution as finally passed with the Director of the Division of Local Government in the Department of the Treasury and in addition shall file a certified copy of all bond proceedings with the said director. L.1952, c. 305, p. 1022, s. 2, eff. June 12, 1952.
NJ Rev Stat § 40:68A-8 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-8 - Service charges

40:68A-8. Service charges  (a) Every port authority is hereby authorized to charge and collect rents, rates, fees or other charges (in this act sometimes referred to as "service charges" ) for its services and facilities. (b) Such rents, rate, fees and charges, being in the nature of use or service charges, shall as nearly as the port authority shall deem practicable and equitable be uniform throughout the district for the same type, class and amount of use or service of the port facilities. (c) The port authority shall prescribe and from time to time when necessary revise a schedule of such service charges, which in any event shall be such that the revenues of the port authority will at all times be adequate to pay all expenses of operation and maintenance of the port facilities, including reserves, insurance, extensions, and replacements, and to pay punctually the principal of and interest on any bonds and to maintain such reserves or sinking funds therefor as may be required by the terms of any contract of the port authority or as may be deemed necessary or desirable by the port authority. Said schedule shall thus be prescribed and from time to time revised by the port authority after public hearing thereon which shall be held by the port authority at least seven days after such published notice as the port authority may determine to be reasonable. The port authority shall likewise fix and determine the time or times when and the place or places where such service charges shall be due and payable and may require that such service charges shall be paid in advance for periods of not more than one year. A copy of such schedule or service charges in effect shall be filed with such Federal agencies requiring filing of tariffs and rates and shall be filed with the Secretary of State of the State of New Jersey and at all times be kept on file at the principal office of the port authority and shall at all reasonable times be open to public inspection. L.1948, c. 349, p. 1388, s. 8, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-9 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-9 - Appropriations by local units

40:68A-9. Appropriations by local units  Any local unit shall have power, in the discretion of its governing body, to appropriate moneys for the purposes of the port authority, and to loan or donate such moneys to the port authority in such installments and upon such terms as may be agreed upon between such local unit and the port authority. L.1948, c. 349, p. 1389, s. 9, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-10 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-10 - Revenue bonds

40:68A-10. Revenue bonds  Revenue bonds may be authorized to be issued under this act to provide funds for the construction, acquisition, repair, improvement or extension of such port facilities, or for the refunding of any bonds theretofore issued for such purposes. The purposes for which such revenue bonds may be issued shall include the payment to the local unit or local units of the reasonable value of any properties or facilities deemed necessary or desirable for the purposes of the port authority, and such port authorities are hereby authorized to purchase and acquire such properties or facilities from such local unit or local units. Such revenue bonds shall be authorized by resolution of the port authority which may be adopted at the same meeting at which it is introduced by a majority of all the members thereof then in office, shall take effect immediately and need not be published or posted. Such revenue bonds may bear interest at such rate or rates, not exceeding six per centum (6%) per annum, may be in one or more series, may bear such date or dates, may mature at such time or times not exceeding forty years from their respective dates, may be payable in such medium of payment at such place or places, may carry such registration privileges, may be subject to such terms of redemption with or without premium, may be executed in such manner, may contain such terms, covenants and conditions, and may be in such form, either coupon or registered, as such resolution or subsequent resolution may provide. Such revenue bonds may be sold, all at one time or in blocks from time to time, at public or private sale, or if refunding bonds may also be delivered in exchange for the outstanding obligations to be refunded thereby, in such manner as the port authority shall determine by resolution, and at such price or prices, computed according to standard tables of bond values, as will yield to the purchasers or the holders of the obligations surrendered in exchange, income at a rate not exceeding six per centum (6%) per annum to the maturity dates of the several bonds so sold or exchanged on the money paid or the principal amount of obligations surrendered therefor to the port authority. L.1948, c. 349, p. 1389, s. 10, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-11 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-11 - Interim certificates; temporary bonds or other instruments

40:68A-11. Interim certificates; temporary bonds or other instruments  After sale of any revenue bonds pursuant to this act, the port authority shall have power to authorize the execution and issuance to the purchasers, pending the preparation of the definitive bonds, of interim certificates therefor or of temporary bonds or other temporary instruments exchangeable for the definitive bonds when prepared, executed and ready for delivery. The holders of such interim certificates, temporary bonds or other temporary instruments shall have all the rights and remedies which they would have as holders of the definitive bonds. L.1948, c. 349, p. 1390, s. 11, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-12 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-12 - Notice as to time for bringing actions questioning validity

40:68A-12. Notice as to time for bringing actions questioning validity  Any port authority may cause to be published in a newspaper published in the district a notice stating the date of adoption of such bond resolution, the amount and maturities of the bonds authorized to be issued, and also stating that any action or proceeding of any kind or nature in any court questioning the validity of the creation and establishment of the port authority, or the validity or proper authorization of bonds provided for by the bond resolution, or the validity of any covenants, agreements or contracts provided for by the bond resolution shall be commenced within twenty days after the first publication of such notice. If no such action or proceedings shall be commenced or instituted within twenty days after the first publication of such notice, then all residents and taxpayers and owners of property in the district and users of the port facilities and all other persons whatsoever shall be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceeding, questioning the validity of the creation and establishment of the port authority, the validity or proper authorization of such bonds, or the validity of any such covenants, agreements or contracts, and said bonds, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor. L.1948, c. 349, p. 1390, s. 12, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-13 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-13 - Negotiability of bonds or obligations

40:68A-13. Negotiability of bonds or obligations  Any provision of any law to the contrary notwithstanding any bond or other obligation issued pursuant to this act shall be fully negotiable within the meaning and for all purposes of the law merchant and negotiable instruments law of the State, and each holder or owner of such a bond or other obligation, or of any coupon appurtenant thereto, by accepting such bond or coupon shall be conclusively deemed to have agreed that such bond, obligation or coupon is and shall be fully negotiable within the meaning and for all purposes of said law merchant and negotiable instruments law. L.1948, c. 349, p. 1391, s. 13, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-16 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-16 - Personal liability on bonds; not debt or liability of state or local unit

40:68A-16. Personal liability on bonds; not debt or liability of state or local unit  Neither the members of the port authority nor any person executing bonds issued pursuant to this act shall be liable personally on the bonds by reason of the issuance thereof. Bonds or other obligations issued pursuant to this act shall not be in any way a debt or liability of the State, and bonds or other obligations issued by a port authority pursuant to this act shall not be in any way a debt or liability of the State or of any local unit or municipality. L.1948, c. 349, p. 1396, s. 16, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-17 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-17 - Real property; acquisition; condemnation

40:68A-17. Real property; acquisition; condemnation  Every port authority is hereby empowered, in its own name but for the local unit or units, to acquire by purchase, gift, grant or devise and to take for public use real property, within or without the district, which may be deemed by the port authority necessary for its purposes. Such port authority is hereby empowered to acquire and take such real property by condemnation, in the manner provided by chapter one of Title 20, Eminent Domain, of the Revised Statutes (R.S. sec. 20:1-1 et seq.) and, to that end, may invoke and exercise in the manner of mode of procedure prescribed in said chapter, either in its own name or in the name of any local unit or units, all of the powers of such local unit or units to acquire or take property for public use. L.1948, c. 349, p. 1396, s. 17, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-18 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-18 - Service charge with regard to real property; interest; lien; enforcement; collection

40:68A-18. Service charge with regard to real property; interest; lien; enforcement; collection  In the event that any service charge of a port authority shall not be paid as and when due, the unpaid balance thereof and all interest at the rate of one per centum (1%) per month accrued thereon, together with attorneys' fees and costs, may be recovered by the port authority in a civil action in any court of competent jurisdiction. Any port authority shall have power to make reasonable rules and regulations for the collection and enforcement of service charges for the use of its port facilities. L.1948, c. 349, p. 1397, s. 18, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-19 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-19 - Sale, lease, loan, grant or conveyance to port authority; permit

40:68A-19. Sale, lease, loan, grant or conveyance to port authority; permit  Any county, by resolution of its board of chosen freeholders, or any municipality, by ordinance of its governing body, or any other person is hereby empowered, without any referendum and without the consent of any board, officer, or other agency of the State, to sell, lease, lend, grant or convey to any port authority, or to permit any port authority to use, maintain or operate as part of the port facilities, any real or personal property owned by it, which may be necessary or useful and convenient for the purposes of the port authority and which may be accepted by the port authority. Any such sale, lease, loan, grant, conveyance or permit may be made with or without consideration and for a specified or an unlimited period of time and under any agreement and on any terms and condition which may be approved by such county, municipality or other person and which may be agreed to by the port authority in conformity with its contracts with the holders of any bonds. Subject to any such contracts with holders of bonds, the port authority may enter into and perform any and all agreements with respect to property so accepted by it, including agreements for the assumption of principal or interest or both of indebtedness of such county, municipality or other person or of any mortgage or lien existing with respect to such property or for the operation and maintenance of such property as part of the port facilities. L.1948, c. 349, p. 1397, s. 19, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-20 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-20 - Public bodies to pay service charges

40:68A-20. Public bodies to pay service charges  Each county, municipality and other public body shall promptly pay to any port authority all service charges for any use of its port facilities, and shall provide for the payment thereof in the same manner as other obligations of such county, municipality or public body. L.1948, c. 349, p. 1398, s. 20, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-21 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-21 - Mortgage, pledge or disposal of port facilities; exemptions

40:68A-21. Mortgage, pledge or disposal of port facilities; exemptions  Neither the port authority nor any local unit shall have power to mortgage, pledge, encumber or otherwise dispose of any part of the port facilities, except that the port authority may dispose of such part or parts thereof as may be no longer necessary for the purposes of the port authority. The provisions of this section shall be deemed to constitute a part of the contract with the holder of any bonds. All property of a port authority shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against a port authority be a charge or lien upon its property; provided, that nothing herein contained shall apply to or limit the rights of the holder of any bonds to pursue any remedy for the enforcement of any pledge or lien given by a port authority on its revenues. L.1948, c. 349, p. 1398, s. 21, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-22 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-22 - Bonds as legal investments

40:68A-22. Bonds as legal investments  Notwithstanding any restriction contained in any other law, the State and all public bodies, and agencies thereof, all banks, bankers, trust companies, savings and loan associations, investment companies, savings banks and institutions, building and loan associations, and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries, may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds issued pursuant to this act, and such bonds shall be authorized security for any and all public deposits. L.1948, c. 349, p. 1398, s. 22.
NJ Rev Stat § 40:68A-23 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-23 - Property as public property; bonds declared issued by political subdivision; bonds exempt from taxation

40:68A-23. Property as public property; bonds declared issued by political subdivision; bonds exempt from taxation  All port facilities and all other property of a port authority are hereby declared to be public property of a political subdivision of the State and devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the State or any subdivision thereof. All bonds issued pursuant to this act are hereby declared to be issued by a political subdivision of this State and for an essential public and governmental purpose and to be a public instrumentality, and such bonds, and the interest thereon and the income therefrom, and all service charges, funds, revenues and other moneys pledged or available to pay or secure the payment of such bonds, or interest thereon, shall at all times be exempt from taxation except for transfer, inheritance and estate taxes. L.1948, c. 349, p. 1398, s. 23, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-24 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-24 - Pledge of State to bondholders

40:68A-24. Pledge of State to bondholders  The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant this act that the State will not authorize or permit the construction or maintenance of any port facilities of the port authority, and will not limit or alter the rights hereby vested in the port authority to acquire, construct, maintain, reconstruct and operate its port facilities, and to fix, establish, charge and collect its service charges and to fulfill the terms of any agreement made with the holders of such bonds or other obligations, and will not in any way impair the rights or remedies of such holders, and will not modify in any way the exemptions from taxation provided for in this act, until such bonds, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. L.1948, c. 349, p. 1399, s. 24, eff. Sept. 1, 1948.
NJ Rev Stat § 40:68A-25 (2021)
2021 New Jersey Revised Statutes|Title 40 - Municipalities and Counties|Section 40:68A-25 - Banks authorized to give undertaking; deposits

40:68A-25. Banks authorized to give undertaking; deposits  All banks, bankers, trust companies, savings banks, investment companies and other persons carrying on a banking business are hereby authorized to give to any port authority a good and sufficient undertaking with such sureties as shall be approved by the port authority to the effect that such banking institution as hereinbefore described shall faithfully keep and pay over to the order of or upon the warrant of the port authority or its authorized agent all such funds as may be deposited with it by the port authority and agreed interest thereon, at such times or upon such demands as may be agreed upon with the authority or, in lieu of such sureties, deposit with the port authority or its authorized agent or any trustee therefor or for the holders of any bonds, as collateral, such securities as the port authority may approve; provided, such securities shall consist of obligations in which public officers and bodies of the State and its municipal subdivision, savings institutions, including savings and loan associations, insurance companies and associations, executors, administrators, guardians, trustees and other fiduciaries in the State may properly and legally invest the funds within their control, in such principal amount, market value or other description as may be approved by the port authority. The deposits of the port authority may be evidenced by a depository collateral agreement in such form and upon such terms and conditions as may be agreed upon by the port authority and such bank or banking institutions. L.1948, c. 349, p. 1399, s. 25, eff. Sept. 1, 1948.