N.J. Stat. § 40A:26A-20
Bonds as legal investments
New Jersey · New Jersey Statutes Title 40A — Municipalities and Counties · Status: effective
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- Citation
- N.J. Stat. § 40A:26A-20, Bonds as legal investments, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1469887
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Full text
Notwithstanding any restrictions contained in any other law, the State and all public officers, local units, political subdivisions and public bodies, or agencies thereof, banks, trust companies, savings banks, savings and loan associations, investment companies, insurance companies, insurance businesses, and executors, administrators, guardians, trustees and other fiduciaries, may legally invest any sinking fund moneys or other funds belonging to them or within their control in any bonds authorized pursuant to this act, which bonds shall be authorized security for any and all public deposits. The bonds and the interest thereon shall be exempt from taxation except for transfer and inheritance taxes.
Source: C.40:23-19.10 (P.L.1966, c.205, s.10) and New.