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.
N.J. Stat. Ann. § 49:2B-10
Issues as separate series, interest payable
Known as the Refunding Bond Act
The act spans §§ 49:2B-1 to 49:2B-9 (21 sections).
L.1985,c.74,s.10; amended 1992,c.182,s.2.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.