reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-26 - Competitive activities

40:68A-26. Competitive activities
After the creation of a port authority as provided herein, no municipality within the district shall have power to engage in, or grant any license or permit to any person, firm, corporation or association to engage in, any activities within such municipality which would be competitive with the purpose of the port authority as provided in this act.
The provisions of this section shall not be construed, however, to affect or impair any contracts entered into prior to the creation of a port authority.
L.1948, c. 349, p. 1400, s. 26, eff. Sept. 1, 1948.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-27 - Liberal construction; regulation of port authorities

40:68A-27. Liberal construction; regulation of port authorities
This act shall be construed liberally to effectuate the legislative intent and as complete and independent authority for the performance of each and every act and thing herein authorized, and a port authority shall not be subject to regulation as to its service charges or as to any other matter whatsoever by any officer, board, agency, commission or other office of the State.
L.1948, c. 349, p. 1400, s. 27, eff. Sept. 1, 1948.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-28 - Partial invalidity

40:68A-28. Partial invalidity
If any section, subsection, clause or provision of this act shall be adjudged unconstitutional or to be ineffective in whole or in part, to the extent that it is not adjudged unconstitutional or is not ineffective it shall be valid and effective and no other section, subsection, clause or provision of this act shall on account thereof be deemed invalid or ineffective, and the inapplicability or invalidity of any section, subsection, clause or provision of this act in any one or more instances or under any one or more circumstances shall not be taken to affect or prejudice in any way its applicability or validity in any other instance or under any other circumstance.
L.1948, c. 349, p. 1401, s. 28, eff. Sept. 1, 1948.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-30 - Declaration of public interest and policy

40:68A-30. Declaration of public interest and policy
It is hereby found that there exists a lack of adequate port facilities available for public use in municipalities in, along or through the territory of which a navigable river flows and it is hereby declared to be in the public interest and to be the policy of the State to foster and promote by all reasonable means the establishment and development of port facilities in municipalities in, along or through the territory of which a navigable river flows and thereby bettering the public health, welfare and convenience and increasing the availability of proper port facilities which cannot be adequately secured except by exercise of the powers of government. It is the purpose and object of this act to further and implement such policy by
(1) Authorizing municipalities in, along or through the territory of which a navigable river flows by means and through the agency of a municipal port authority, to acquire, construct, maintain, operate, improve or lease public port facilities;
(2) Authorizing the making of charges for the use or the services of such facilities, and providing for the establishment, collection and enforcement of such charges;
(3) Creating as bodies corporate and politic municipal port authorities to have full responsibility and powers with respect to such facilities and the establishment, collection, enforcement, use and disposition of such charges for the use or services of such facilities;
(4) Providing for the financing of such facilities, for the issuance of bonds therefor, and for the payment and security of such bonds; and
(5) Granting to municipalities in, along or through the territory of which a navigable river flows and to such municipal port authorities discretionary powers to provide for public port facilities or a system thereof and obtaining funds to defray the cost thereof from the users of such facilities or from counties or municipalities or from other persons contracting for or with respect to the same.
L.1960, c. 192, p. 807, s. 2, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-33 - Officers, agents and employees; civil service

40:68A-33. Officers, agents and employees; civil service
a. Every municipal port authority, upon the first appointment of its members and thereafter on or after February 1 in each year, shall annually elect from among its members a chairman and a vice-chairman who shall hold office until February 1 next ensuing and until their respective successors shall have been appointed and qualified. Every municipal port authority may also appoint and employ a secretary and a treasurer and it shall determine their qualifications, terms of office, duties and compensation. Such municipal port authority may also appoint and employ such other agents and employees as it may require and it shall determine their duties and compensation.
b. (1) Whenever the governing body of the municipality which established the municipal port authority has adopted the provisions of Title 11 of the Revised Statutes, all positions and employments of the municipal port authority shall be subject to the provisions of Title 11 of the Revised Statutes, and shall be allocated to appropriate titles by the Civil Service Commission.
(2) The Civil Service Commission shall provide the municipal port authority with a list of the positions and employments allocated to the classified service and the appropriate titles. Within 30 days of the receipt of the list, the municipal port authority shall certify to the Civil Service Commission the names of all those persons employed with the municipal port authority in the allocated positions and employments on the effective date of this act. After passing a qualifying examination, the employees so certified shall be recorded, under the appropriate titles, as having been permanently appointed in the classified service of civil service as of the date of their original appointment. Thereafter, the employees shall be under and subject to the provisions of Title 11 of the Revised Statutes.
Persons appointed and employed by the municipal port authority after the effective date of this act shall be subject to the civil service examination and appointment procedures of Title 11 of the Revised Statutes.
L.1960, c. 192, p. 812, s. 5, eff. Feb. 15, 1961. Amended by L.1984, c. 116, s. 2, eff. Aug. 3, 1984.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-34 - Powers vested in members; quorum

40:68A-34. Powers vested in members; quorum
The powers of the municipal port authority shall be vested in the members thereof in office from time to time and 3 members shall constitute a quorum at any meeting thereof. Action may be taken and motions and resolutions adopted by the municipal port authority at any meeting of the members thereof by vote of 3 of the members, unless in any case the by-laws of the municipal port authority shall require a larger number.
L.1960, c. 192, p. 812, s. 6, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-35 - Reimbursement for expenses; compensation for services

40:68A-35. Reimbursement for expenses; compensation for services
A municipal port authority may reimburse its members for necessary expenses incurred in the discharge of their duties. The ordinance for the creation of a municipal port authority may authorize payment or compensation for services to members of the municipal port authority within such annual or other limitations as may be stated in such ordinance. Any such provision or limitation stated in any such ordinance, may be amended, supplemented, repealed or added by subsequent ordinance, but no reduction of any such limitation shall be effective during the remaining term of any member of the municipal port authority then in office except upon his written consent. No member of any municipal port authority shall receive any compensation of any kind from the municipal port authority except as authorized by this section.
L.1960, c. 192, p. 813, s. 7, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-36 - Interest of members, officers or employees in property or contracts

40:68A-36. Interest of members, officers or employees in property or contracts
No member, officer or employee of a municipal port authority shall have or acquire any interest, direct or indirect, in the port system or in any property included or planned to be included in the port system or in any contract or proposed contract for materials or services to be furnished to or used by the municipal port authority. Neither the holding of any office or employment in the government of any county or municipality or of the State nor the owning of any other property within the State shall be deemed a disqualification for membership in or employment by a municipal port authority, and members of the governing body of the municipality may be appointed by such governing body and may serve as members of a municipal port authority.
L.1960, c. 192, p. 813, s. 8, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-37 - Removal of members

40:68A-37. Removal of members
A member of a municipal port authority may be removed by the governing body of the municipality for incapacity, inefficiency or neglect of duty or misconduct in office or other disqualifying cause and after he shall have been given a copy of the charges against him and afforded a hearing, in person or by counsel, but not sooner than 10 days after receiving a copy of such charges.
L.1960, c. 192, p. 813, s. 9, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-38 - Dissolution of municipal port authority; vesting of property in municipality

40:68A-38. Dissolution of municipal port authority; vesting of property in municipality
The governing body of any municipality which has created a municipal port authority pursuant to this act may, by ordinance adopted by the recorded affirmative vote of at least two-thirds of the full membership of the governing body, dissolve such municipal port authority on the condition that (1) if such authority has any debts other than bonds outstanding, the municipality shall appropriate the moneys required to enable all such debts to be discharged in full, and (2) either such authority has no bonds outstanding or all holders of bonds of the municipal port authority have consented to the ordinance. A copy of the ordinance for the dissolution of a municipal port authority pursuant to this section duly certified by the appropriate officer of the municipality which has adopted such ordinance shall be filed in the office of the Secretary of State and shall be transmitted to the Director of the Division of Local Government Services. Upon proof of such filing of a certified copy of the ordinance for the dissolution of a municipal port authority as aforesaid and upon proof either that such municipal port authority had no bonds outstanding at the time of the adoption of such ordinance, or that all holders of bonds of such municipal port authority have consented to such ordinance, the municipal port authority therein referred to shall be conclusively deemed to have been lawfully and properly dissolved and the property of such municipal port authority shall be vested in the municipality adopting such ordinance. A copy of any such certified ordinance, duly certified by or on behalf of the Secretary of State, shall be admissible in evidence in any such action, or proceeding, and shall be conclusive evidence of due and proper filing thereof as aforesaid.
L.1960, c. 192, p. 814, s. 10, eff. Feb. 15, 1961. Amended by L.1982, c. 179, s. 1, eff. Nov. 12, 1982.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-39 - Purpose of municipal port authority

40:68A-39. Purpose of municipal port authority
The purpose of every municipal port authority shall be the improvement, establishment and development of facilities in its port district for port purposes by or through the acquisition, construction, improvement, maintenance or operation of any and all projects and facilities for the improvement and development of such port district for port purposes, or directly related thereto, either directly or by agreement with any county, municipality or person, or in any other manner, as in the judgment of the municipal port authority will provide an effective and satisfactory method for promoting its purposes.
L.1960, c. 192, p. 814, s. 11, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-41 - Facility charges

40:68A-41. Facility charges
Every municipal port authority is hereby authorized to fix, charge and collect rents, rates, fees or other charges (in this act sometimes referred to as "facility charges" ) in connection with, or for the use, or services of, the port system, and for all services sold, furnished or supplied directly or indirectly through the port system.
L.1960, c. 192, p. 816, s. 13, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-42 - Schedule of facility charges

40:68A-42. Schedule of facility charges
Every municipal port authority may prescribe and from time to time when necessary revise a schedule of all its facility charges. The facility charges fixed, charged and collected shall comply with the terms of any contract of the municipal port authority and may be so adjusted that the revenues of the municipal port authority will at all times be adequate to pay the expenses of operation and maintenance of the port system, including reserves, insurance, improvements, replacements, and other required payments, and to pay 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 municipal port authority or as may be deemed necessary or desirable by the municipal port authority. A copy of such schedule of facility charges in effect shall be a public record.
L.1960, c. 192, p. 817, s. 14, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-43.1 - Provisions relative to municipal port authorities.

40:68A-43.1 Provisions relative to municipal port authorities.
3. In accordance with rules and regulations which the Local Finance Board is hereby authorized to adopt, municipal port authorities created pursuant to P.L.1960, c.192 (C.40:68A-29 et seq.) are subject to the following provisions:
(a) Every authority shall be required to submit an annual budget to the Director of the Division of Local Government Services in the Department of Community Affairs for approval.
(b) The issuance of any obligations of an authority, agreements regarding municipal guaranties of authority bonds, financing agreements entered into by an authority, and all leases, sales or dispositions of real property made by an authority shall be subject to the approval of the Local Finance Board.
L.1981, c.547, s.3; amended 2015, c.95, s.11.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-44 - Authority to issue bonds; bond resolution

40:68A-44. Authority to issue bonds; bond resolution
For the purpose of raising funds to pay the cost of any part of its port system or for the purpose of funding or refunding any bonds, a municipal port authority shall have power to authorize or provide for the issuance of bonds pursuant to this act, by a resolution (in this act sometimes referred to as "bond resolution" ) which shall:
(1) describe in brief and general terms sufficient for reasonable identification the port system or part thereof (in this act sometimes called "project" ) to be constructed or acquired, or describe the bonds which are to be funded or refunded (if any);
(2) state the cost or estimated cost of the project (if any); and
(3) provide for the issuance of the bonds in accordance with section 17 of this act.
L.1960, c. 192, p. 817, s. 16, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-45 - Issuance of bonds

40:68A-45. Issuance of bonds
Upon the adoption of a bond resolution, a municipal port authority shall have power to incur indebtedness, borrow money and issue its bonds for the purpose of financing the project or of funding or refunding the bonds described therein. Such bonds shall be authorized by the bond resolution and may be issued in 1 or more series and shall bear such date or dates, mature at such time or times not exceeding 40 years from the date thereof, bear interest at a rate or rates within such maximum rate (not exceeding 6% per annum), be in such denomination or denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable from such sources in such medium of payment at such place or places within or without the State, and be subject to such terms of redemption (with or without premium) as the bond resolution may provide. The municipal port authority may issue such types of bonds as it may determine, including (without limiting the generality of the foregoing) bonds on which the principal and interest are payable (a) exclusively from the income and revenues of the project financed with the proceeds of such bonds; (b) exclusively from the income and revenues of certain designated projects whether or not they are financed in whole or in part with the proceeds of such bonds; or (c) from its revenues generally. Any such bonds may be additionally secured by a pledge of any grant or contributions from the Federal Government, the State or any municipality or a pledge of any income or revenues of the municipal port authority including income or revenues to be received pursuant to grant or lease by the municipal port authority of the use or services of any project owned or controlled by it. This act shall be complete authority for the issuance of bonds by a municipal port authority, and the provisions of any other law shall not apply to the issuance of such bonds.
L.1960, c. 192, p. 818, s. 17, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-46 - Sale of bonds; interest

40:68A-46. Sale of bonds; interest
Bonds of a municipal port authority may be sold by the municipal port authority at public or private sale at such price or prices as the municipal port authority shall determine; provided, however, that the interest cost to maturity of the money received for any issue of bonds (computed according to standard tables of bond values) shall not exceed 6% per annum.
L.1960, c. 192, p. 819, s. 18, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-47 - Filing copy of bond resolution; publication of notice; limitation of actions

40:68A-47. Filing copy of bond resolution; publication of notice; limitation of actions
The municipal port authority shall cause a copy of any bond resolution adopted by it to be filed for public inspection in its office and in the office of the clerk of the governing body of the local unit and shall thereupon cause to be published, at least once, in a newspaper published or circulating in the port district a notice stating the fact and date of such adoption and the places where such bond resolution has been so filed for public inspection and also the date of the first publication of such notice and also that any action or proceeding of any kind or nature in any court questioning 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 20 days after the first publication of such notice. If any such notice shall at any time be published and if no action or proceeding questioning the validity or proper authorization of bonds provided for by the bond resolution referred to in said notice, or the validity of any covenants, agreements or contracts provided for by said bond resolution shall be commenced or instituted within 20 days after the first publication of said notice, then all residents and taxpayers and owners of property in the port district and users of the port system 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 proceedings, questioning 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.1960, c. 192, p. 819, s. 19, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-50 - Appointment of receiver; powers and duties

40:68A-50. Appointment of receiver; powers and duties
If the bond resolution of a municipal port authority authorizing or providing for the issuance of a series of its bonds shall provide in substance that the holders of the bonds of such series shall be entitled to the benefits of section 21 of this act and shall further provide in substance that any trustee appointed pursuant to said section or having the powers of such a trustee shall have the powers provided by this section, then such trustee, whether or not all of the bonds of such series shall have been declared due and payable, shall be entitled to the appointment of a receiver of the port system, and such receiver may enter upon and take possession of the port system and, subject to any pledge or contract with the holders of such bonds, shall take possession of all moneys and other property derived from or applicable to the acquisition, construction, operation, maintenance or reconstruction of the port system and proceed with such acquisition, construction, operation, maintenance or reconstruction which the municipal port authority is under any obligation to do, and operate, maintain and reconstruct the port system and fix, charge, collect, enforce and receive the facility charges and all system revenues thereafter arising subject to any pledge thereof or contract with the holders of such bonds relating thereto and perform the public duties and carry out the contracts and obligations of the municipal port authority in the same manner as the municipal port authority itself might do and under the direction of the court.
L.1960, c. 192, p. 824, s. 22, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-51 - Personal liability on bonds; not debt or liability of state, county or municipality

40:68A-51. Personal liability on bonds; not debt or liability of state, county or municipality
Neither the members of the municipal 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 municipal port authority pursuant to this act shall not be in any way a debt or liability of the State or of any county or municipality and shall not create or constitute any indebtedness, liability or obligation of the State or of any county or municipality, except a municipality which in accordance with section 15 of P.L.1960, c. 192 (C. 40:68A-43) shall have guaranteed payment of principal and interest on the bonds or other obligations. Nothing in this act contained shall be construed to authorize any municipal port authority to incur any indebtedness on behalf of or in any way to obligate the State or any county.
L.1960, c. 192, p. 824, s. 23, eff. Feb. 15, 1961. Amended by L.1981, c. 547, s. 2.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-52 - Negotiability of bonds

40:68A-52. Negotiability of bonds
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 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 negotiable instruments law.
L.1960, c. 192, p. 825, s. 24, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-53 - Real property; acquisition; condemnation

40:68A-53. Real property; acquisition; condemnation
Every municipal port authority is hereby empowered, in its own name but for the local unit, to acquire by purchase, gift, grant or devise and to take for public use real property within the port district, which may be deemed by the municipal port authority to be necessary for its purposes, including public lands and property (hereinafter in this section called "public lands" ) in which any county, municipality or political subdivision of the State, or public body or agency of such political subdivision has any right, title or interest and to the acquisition of which it shall have consented. Whenever any municipal port authority has determined that it is necessary to take any such real property for port purposes by the exercise of the power of condemnation, as hereinafter provided, it shall prepare 2 copies of diagrams, maps or plans designating the general area in the local unit in which real property is to be acquired and file 1 copy thereof in its office and the other copy thereof in the office of the clerk of the local unit. Such municipal port authority is hereby empowered to acquire and take such real property by condemnation, in the manner provided by chapter 1 of Title 20, Eminent Domain, of the Revised Statutes (R.S. 20:1-1 et seq.) and, to that end, may invoke and exercise in the manner or mode of procedure prescribed in said chapter, either in its own name or in the name of the local unit, all of the powers of such local unit to acquire or take property for public use; provided, however, that, notwithstanding the foregoing or any other provision of this act, no municipal port authority shall institute any proceeding to acquire or take, by condemnation, any real property within the designated area in the local unit referred to above in this section until after the date of filing in the office of the clerk of the local unit of a certified copy of a (a) resolution of the municipal port authority stating the finding of the municipal port authority that it is necessary or convenient to acquire real property in said designated area for port purposes, and (b) resolution of the governing body of the local unit expressing its consent to the acquisition of real property in said designated area.
L.1960, c. 192, p. 825, s. 25, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-54 - Construction or operation of port system; additional powers; relocation of facilities

40:68A-54. Construction or operation of port system; additional powers; relocation of facilities
In addition to other powers conferred by this act or by any other law, and not in limitation thereof, every municipal port authority, in connection with construction or operation of any part of a port system, shall have power to make reasonable regulations for the installation, construction, maintenance, repair, renewal, relocation and removal of tracks, pipes, mains, conduits, cables, wires, towers, poles or any other equipment and appliances (herein called "facilities" ) of any public utility as defined in section 48:2-13 of the Revised Statutes, in, on, along, over or under any real property of the municipal port authority. Whenever in connection with construction or operation of any part of a port system, any municipal port authority shall determine that it is necessary that any such facilities, which now are, or hereafter may be, located in, on, along, over or under any such real property, should be relocated in such real property, or should be removed therefrom, the public utility owning or operating such facilities shall relocate or remove the same in accordance with the order of the municipal port authority, provided, however, that the cost and expenses of such relocation or removal, including the cost of installing such facilities in a new location, or new locations, and the cost of any lands or any rights or interest in lands, or any other rights acquired to accomplish such relocation or removal, less the cost of any lands or any rights or interests in lands or any other rights of the public utility paid to the public utility in connection with the relocation or removal of such property, shall be paid by the municipal port authority and may be included in the cost of such port system. In case of any such relocation or removal of facilities, as aforesaid, the public utility owning or operating the same, its successors or assigns, may maintain and operate such facilities, with the necessary appurtenances, in the new location or new locations for as long a period, and upon the same terms and conditions, as it had the right to maintain and operate such facilities in their former location.
L.1960, c. 192, p. 826, s. 26, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-55 - Aid and co-operation of local units

40:68A-55. Aid and co-operation of local units
For the purpose of aiding and co-operating in the planning, undertaking, acquisition, construction or operation of any project of a municipal port authority, the local unit may: (a) acquire real property in its name for any project or for the widening of existing roads, streets, parkways, avenues or highways or for new roads, streets, parkways, avenues, or highways to any such project, or partly for such purposes and partly for other municipal purposes, by purchase or condemnation in the manner provided by law for the acquisition of real property by such municipality; (b) furnish, dedicate, close, vacate, pave, install, grade, regrade, plan or replan streets, roads, roadways, alleys, sidewalks or other places which it is otherwise empowered to undertake; and (c) do any and all things necessary or convenient to aid and co-operate in the planning, undertaking, construction or operation of any such project, and cause services to be furnished to the municipal port authority of the character which such municipality is otherwise empowered to furnish, and to incur the entire expense thereof.
L.1960, c. 192, p. 827, s. 27, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-56 - Sale, lease, loan, grant or conveyance to municipal port authority

40:68A-56. Sale, lease, loan, grant or conveyance to municipal port authority
Any municipality, by ordinance of its governing body, or any other person is hereby empowered, without any referendum or public or competitive bidding to sell, lease, lend, grant or convey to a municipal port authority, or to permit a municipal port authority to use, maintain or operate as part of the port system, any real or personal property owned by it which may be necessary or useful and convenient for the purposes of the municipal port authority and accepted by the municipal 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 conditions which may be approved by such municipality or other person and which may be agreed to by the municipal port authority in conformity with its contracts with the holders of any bonds. Subject to any such contracts with holders of bonds, the municipal 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 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 system.
L.1960, c. 192, p. 828, s. 28, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-57 - Appropriation of money by local unit

40:68A-57. Appropriation of money by local unit
The local unit shall have power from time to time, pursuant to ordinance of its governing body, and for such period and upon such terms, with or without consideration, as may be provided in such ordinance and accepted by the municipal port authority to appropriate money for all or any part of the cost of acquisition or construction of any project of the municipal port authority.
L.1960, c. 192, p. 828, s. 29, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-58 - Contracts for use or lease of port system

40:68A-58. Contracts for use or lease of port system
Any municipal port authority and any person, may enter into a contract or contracts provided for or relating to the use or lease of all or any part of the port system of the municipal port authority and the cost and expense of such use. Any such contract may provide for the payment to the municipal port authority annually or otherwise of such sum or sums of money for such use, computed at fixed amounts or by a formula or in any other manner. Any such contract may be made with or without consideration and for a specified or an unlimited time and on any terms and conditions which may be approved and agreed to by the municipal port authority in conformity with its contracts with the holders of any bonds. Subject to any such contracts with the holders of bonds, the municipal port authority is hereby authorized to do and perform any and all acts or things necessary, convenient or desirable to carry out and perform every such contract.
L.1960, c. 192, p. 829, s. 30, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-59 - Mortgage, pledge or disposal of port system; exceptions

40:68A-59. Mortgage, pledge or disposal of port system; exceptions
Except as otherwise expressly hereinabove provided with respect to the right of the municipal port authority to grant by franchise, lease or otherwise the use of any project owned or controlled by it, the municipal port authority shall not mortgage, pledge, encumber or otherwise dispose of any part of the port system, except that the municipal port authority may dispose of such part or parts thereof as may be no longer necessary for the purposes of the municipal port authority. The provisions of this section shall be deemed to constitute a part of the contract with the holder of any bonds.
L.1960, c. 192, p. 829, s. 31, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-60 - Exemption from execution

40:68A-60. Exemption from execution
All property of a municipal 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 municipal 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 municipal port authority on its system revenues or other moneys.
L.1960, c. 192, p. 829, s. 32, eff. Feb. 15, 1961.
2023 New Jersey Revised Statutes › Title 40 - Municipalities and Counties › Section 40:68A-61 - Payments in lieu of taxes

40:68A-61. Payments in lieu of taxes
Every municipal port authority and every municipality in which any property of the municipal port authority is located are hereby authorized and empowered to enter into agreements with respect to the payment by the municipal port authority to such municipality of annual sums of money in lieu of taxes on such property in amount not less than the amount of taxes last paid on such property prior to its acquisition by the municipal port authority, or such other agreed amount computed on the basis of the assessed value of real property without improvements, and each such municipal port authority is empowered to make such payments and each such municipality is empowered to accept such payments and to apply them in the manner in which taxes may be applied in such municipality.
L.1960, c. 192, p. 830, s. 33, eff. Feb. 15, 1961.