The State shall have the right, upon furnishing the authority with sufficient funds therefor, to require the authority to redeem, pay or cause to be paid, at or prior to maturity, in whole or in part, any bonds issued by the authority under the act; provided that such redemption or payment shall be made in accordance with the provisions of any contract entered into by the authority with the holders of such bonds.
N.J. Stat. Ann. § 5:10-14.2
Right of state to require redemption prior to maturity
Known as the Casino Simulcasting Act
The act spans §§ 5:10-1 to 5:9-9 (1,144 sections).
L.1973, c. 286, s. 2, eff
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.