N.J. Stat. § 40:3-1: Definitions

For the purposes of this chapter, bonds which are payable in installments in successive years during at least three-quarters of the period covered by the term of the whole issue, shall be known as "serial bonds" . All other bonds shall be known as "term bonds" .

The term "governing body" as used in this chapter means the board or body having charge and control of the finances of the municipality, county or school district.