N.J. Stat. § 49:2B-10: Issues as separate series, interest payable

10. When refunding bonds are issued from time to time, the refunding bonds of each issue shall constitute a separate series to be designated by the issuing officials. Each series of refunding bonds shall bear rates of interest as may be determined by the issuing officials, which interest shall be payable at such times and in such manner as may be determined by the issuing officials.

L.1985,c.74,s.10; amended 1992,c.182,s.2.