Title 40, Title 40: MUNICIPALITIES AND COUNTIES

40:68A-13. Negotiability of bonds or obligations Any provision of any law to the contrary notwithstanding any bond or other obligation issued pursuant to this act shall be fully negotiable within the meaning and for all purposes of the law merchant and negotiable instruments law …

40:68A-14. Provisions of bond resolutions Any bond resolution of a port authority providing for or authorizing the issuance of any bonds may contain provisions, and such port authority, in order to secure the payment of such bonds and in addition to its other powers, shall have p…

40:68A-15. Default in payment of bonds; trustees; appointment; powers; receiver In the event that there shall be a default in the payment of principal of or interest on any bonds after the same shall become due, whether at maturity or upon call for redemption, and such default sh…

40:68A-16. Personal liability on bonds; not debt or liability of state or local unit Neither the members of the port authority nor any person executing bonds issued pursuant to this act shall be liable personally on the bonds by reason of the issuance thereof. Bonds or other obli…

40:68A-17. Real property; acquisition; condemnation Every port authority is hereby empowered, in its own name but for the local unit or units, to acquire by purchase, gift, grant or devise and to take for public use real property, within or without the district, which may be deem…

40:68A-18. Service charge with regard to real property; interest; lien; enforcement; collection In the event that any service charge of a port authority shall not be paid as and when due, the unpaid balance thereof and all interest at the rate of one per centum (1%) per month acc…

40:68A-19. Sale, lease, loan, grant or conveyance to port authority; permit Any county, by resolution of its board of chosen freeholders, or any municipality, by ordinance of its governing body, or any other person is hereby empowered, without any referendum and without the conse…

40:68A-2. Declaration of public interest and policy of state It is hereby declared to be in the public interest and to be the policy of the State to foster and promote by all reasonable means the welfare of the citizens thereof by the proper establishment and development of port …

40:68A-20. Public bodies to pay service charges Each county, municipality and other public body shall promptly pay to any port authority all service charges for any use of its port facilities, and shall provide for the payment thereof in the same manner as other obligations of su…

40:68A-21. Mortgage, pledge or disposal of port facilities; exemptions Neither the port authority nor any local unit shall have power to mortgage, pledge, encumber or otherwise dispose of any part of the port facilities, except that the port authority may dispose of such part or …

40:68A-22. Bonds as legal investments Notwithstanding any restriction contained in any other law, the State and all public bodies, and agencies thereof, all banks, bankers, trust companies, savings and loan associations, investment companies, savings banks and institutions, build…

40:68A-23. Property as public property; bonds declared issued by political subdivision; bonds exempt from taxation All port facilities and all other property of a port authority are hereby declared to be public property of a political subdivision of the State and devoted to an es…

40:68A-24. Pledge of State to bondholders The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant this act that the State will not authorize or permit the construction or maintenance of any port facilities of the port aut…

40:68A-25. Banks authorized to give undertaking; deposits All banks, bankers, trust companies, savings banks, investment companies and other persons carrying on a banking business are hereby authorized to give to any port authority a good and sufficient undertaking with such sure…

40:68A-26. Competitive activities After the creation of a port authority as provided herein, no municipality within the district shall have power to engage in, or grant any license or permit to any person, firm, corporation or association to engage in, any activities within such …

40:68A-27. Liberal construction; regulation of port authorities This act shall be construed liberally to effectuate the legislative intent and as complete and independent authority for the performance of each and every act and thing herein authorized, and a port authority shall n…

40:68A-28. Partial invalidity If any section, subsection, clause or provision of this act shall be adjudged unconstitutional or to be ineffective in whole or in part, to the extent that it is not adjudged unconstitutional or is not ineffective it shall be valid and effective and …

40:68A-29. Short title This act shall be known and may be cited as the "municipal port authorities law." L.1960, c. 192, p. 807, s. 1, eff. Feb. 15, 1961.

40:68A-3. Definitions As used in this act, unless a different meaning clearly appears from the context: (1) "Municipality" shall mean any city of any class, any borough, village, town, township, or any other municipality other than a county or a school district; (2) "Governing bo…

40:68A-30. Declaration of public interest and policy It is hereby found that there exists a lack of adequate port facilities available for public use in municipalities in, along or through the territory of which a navigable river flows and it is hereby declared to be in the publi…

40:68A-31. Definitions As used in this act, unless a different meaning clearly appears from the context: (1) "Municipality" shall mean any city, borough, village, town, township, or any other municipality or agency thereof other than a county or a school district; (2) "Governing …

40:68A-32. Municipal port authority; creation by municipalities; membership; terms; vacancies The governing body of any municipality in, along or through the territory of which a navigable river flows, may by ordinance create a public body corporate and politic under and pursuant…

40:68A-33. Officers, agents and employees; civil service a. Every municipal port authority, upon the first appointment of its members and thereafter on or after February 1 in each year, shall annually elect from among its members a chairman and a vice-chairman who shall hold offi…

40:68A-34. Powers vested in members; quorum The powers of the municipal port authority shall be vested in the members thereof in office from time to time and 3 members shall constitute a quorum at any meeting thereof. Action may be taken and motions and resolutions adopted by the…

40:68A-35. Reimbursement for expenses; compensation for services A municipal port authority may reimburse its members for necessary expenses incurred in the discharge of their duties. The ordinance for the creation of a municipal port authority may authorize payment or compensati…

40:68A-36. Interest of members, officers or employees in property or contracts No member, officer or employee of a municipal port authority shall have or acquire any interest, direct or indirect, in the port system or in any property included or planned to be included in the port…

40:68A-37. Removal of members A member of a municipal port authority may be removed by the governing body of the municipality for incapacity, inefficiency or neglect of duty or misconduct in office or other disqualifying cause and after he shall have been given a copy of the char…

40:68A-38. Dissolution of municipal port authority; vesting of property in municipality The governing body of any municipality which has created a municipal port authority pursuant to this act may, by ordinance adopted by the recorded affirmative vote of at least two-thirds of th…

40:68A-39. Purpose of municipal port authority The purpose of every municipal port authority shall be the improvement, establishment and development of facilities in its port district for port purposes by or through the acquisition, construction, improvement, maintenance or opera…

40:68A-4. Port authority; creation by municipalities; membership, filing of ordinances and resolutions (a) The governing body of any municipality may, by ordinance duly adopted, create a public body corporate and politic under the name and style of "the port authority" with all o…

40:68A-40. Municipal port authority as political subdivision; powers Every municipal port authority shall be a public body politic and corporate constituting a political subdivision of the State established as an instrumentality exercising public and essential governmental functi…

40:68A-41. Facility charges Every municipal port authority is hereby authorized to fix, charge and collect rents, rates, fees or other charges (in this act sometimes referred to as "facility charges" ) in connection with, or for the use, or services of, the port system, and for a…

40:68A-42. Schedule of facility charges Every municipal port authority may prescribe and from time to time when necessary revise a schedule of all its facility charges. The facility charges fixed, charged and collected shall comply with the terms of any contract of the municipal …

40:68A-43. Powers of municipalities; finances; ordinance a. Any municipality shall have power, in the discretion of its governing body, and pursuant to ordinance: (1) To appropriate moneys for the purposes of the municipal port authority, and to loan or donate such moneys to the …

40:68A-43.1 Provisions relative to municipal port authorities. 3. In accordance with rules and regulations which the Local Finance Board is hereby authorized to adopt, municipal port authorities created pursuant to P.L.1960, c.192 (C.40:68A-29 et seq.) are subject to the followin…

40:68A-44. Authority to issue bonds; bond resolution For the purpose of raising funds to pay the cost of any part of its port system or for the purpose of funding or refunding any bonds, a municipal port authority shall have power to authorize or provide for the issuance of bonds…

40:68A-45. Issuance of bonds Upon the adoption of a bond resolution, a municipal port authority shall have power to incur indebtedness, borrow money and issue its bonds for the purpose of financing the project or of funding or refunding the bonds described therein. Such bonds sha…

40:68A-46. Sale of bonds; interest Bonds of a municipal port authority may be sold by the municipal port authority at public or private sale at such price or prices as the municipal port authority shall determine; provided, however, that the interest cost to maturity of the money…

40:68A-47. Filing copy of bond resolution; publication of notice; limitation of actions The municipal port authority shall cause a copy of any bond resolution adopted by it to be filed for public inspection in its office and in the office of the clerk of the governing body of the…

40:68A-48. Agreements with bondholders Any bond resolution of a municipal port authority providing for or authorizing the issuance of any bonds may contain provisions and such municipal port authority, in order to secure the payment of such bonds and in addition to its other powe…

40:68A-49. Default in payment of series bonds; appointment of trustee; powers (a) If the bond resolution of a municipal port authority authorizing or providing for the issuance of a series of its bonds shall provide in substance that the holders of the bonds of such series shall …

40:68A-5. Members of port authority; powers; terms; expenses; officers, agents and authorities; civil service (a) The powers of a port authority shall be vested in the members thereof in office from time to time. A majority of the entire authorized membership of a port authority …

40:68A-50. Appointment of receiver; powers and duties If the bond resolution of a municipal port authority authorizing or providing for the issuance of a series of its bonds shall provide in substance that the holders of the bonds of such series shall be entitled to the benefits …

40:68A-51. Personal liability on bonds; not debt or liability of state, county or municipality Neither the members of the municipal port authority nor any person executing bonds issued pursuant to this act shall be liable personally on the bonds by reason of the issuance thereof.…

40:68A-52. Negotiability of bonds Any provision of any law to the contrary notwithstanding, any bond or other obligation issued pursuant to this act shall be fully negotiable within the meaning and for all purposes of the negotiable instruments law of the State, and each holder o…

40:68A-53. Real property; acquisition; condemnation Every municipal port authority is hereby empowered, in its own name but for the local unit, to acquire by purchase, gift, grant or devise and to take for public use real property within the port district, which may be deemed by …