N.J. Stat. § 40:14B-27: Sale of bonds

Bonds of a municipal authority may be sold by the municipal authority at public or private sale at such price or prices as the municipal 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.1957, c. 183, p. 654, s. 27, eff. Aug. 22, 1957.