Title 40, Title 40: MUNICIPALITIES AND COUNTIES

40:37A-47. Dissolution of authority The governing body of any county which has created an authority pursuant to this act may be ordinance or resolution, as appropriate, dissolve such authority if either (1) such authority has no debts or obligations outstanding, or (2) all credit…

40:37A-47.1. Legislative determination 1. It is hereby found and declared: (a) that there are located within this State various federal installations comprising substantial tracts of land including, in many cases, buildings and other improvements thereon; (b) that, as the defense…

40:37A-48. Appointment of members; terms; vacancies a. After expiration of the period of 45 days following the first publication as provided in section 3 hereof of a notice regarding creation of an authority, 5 persons shall be appointed as the members of the authority. The membe…

40:37A-49. Election of officers; terms; appointment of agents and employees Every 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 off…

40:37A-50 Powers vested in members, quorum; minutes, approval. 7. a. The powers of an authority shall be vested in the members thereof in office from time to time, and a majority of the entire authorized voting membership of the authority shall constitute a quorum at any meeting …

40:37A-51. Compensation of members; reimbursement for expenses The members of an authority shall serve without compensation, but the authority may reimburse its members for necessary expenses incurred in the discharge of their duties. L.1960, c. 183, p. 735, s. 8, eff. Jan. 18, 1…

40:37A-52. Ex officio member 9. No member of the governing body of the county or any existing or potential beneficiary county shall be appointed as a member of, or employed by, an authority; but the governing body of the county may, by ordinance or resolution, as appropriate, pro…

40:37A-53. Removal of members of authority A member of an authority may be removed by the governing body of the county 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 charges aga…

40:37A-54 Purposes. 11. a. The purposes of every authority shall be (a) provision within the county or any beneficiary county of public facilities for use by the State, the county or any beneficiary county, or any municipality in any such county, or any two or more or any subdivi…

40:37A-55 Body politic and corporate; powers and duties. 12. Every 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 functions to provide for the …

40:37A-55.1. Power of authority for purposes of redevelopment of blighted, deteriorated or deteriorating areas For purposes of the redevelopment of blighted, deteriorated or deteriorating areas, and subject to the provisions of this act, an authority may: a. Acquire or contract t…

40:37A-55.2 Prevailing wage rate for workers employed on projects with county improvement authority involvement. 13. Each worker employed in the construction or rehabilitation of facilities undertaken in connection with loans, loan guarantees, expenditures, investments, tax exemp…

40:37A-55.3 Exercise of rights, powers or duties. 14. For the purpose of implementing the provisions of sections 13 through 15 of this act, the Commissioner of Labor and Workforce Development shall, and a worker employed in the performance of work subject to this act or the emplo…

40:37A-55.4 Prevailing wage rules, regulations, adoption by county improvement authority. 15. Each county improvement authority shall, in consultation with the Commissioner of Labor and Workforce Development, adopt rules and regulations, consistent with the rules and regulations …

40:37A-55.5 Inapplicability of C.40:37A-55.2 through C.40:37A-55.4. 16. The provisions of section 13 through 15 of this act shall not apply to construction and rehabilitation of facilities conducted entirely under contracts entered into prior to the effective date of this act or …

40:37A-56. Report to governing body; powers limited 13. (1) Whenever an authority after investigation and study shall plan to undertake any public facility or facilities (other than a development project or redevelopment project) for the purposes of the authority, the authority s…

40:37A-57. Facility charges Every authority is hereby authorized to charge and collect tolls, rents, rates, fares, fees or other charges (in this act sometimes referred to as "facility charges") in connection with, or for the use or services of, or otherwise relating to, any publ…

40:37A-58. Compliance of facility charges with terms of lease or other agreement regarding facility; adjustment of charges The facility charges fixed, charged and collected by an authority with respect to any public facility shall comply with the terms of any lease or other agree…

40:37A-60. Purpose of issuance; bonds authorized; pledge of contributions or revenue, or real or personal property For the purpose of (1) financing the cost of any public facility or facilities (in this act sometimes referred to as the "project" ), or (2) funding or refunding any…

40:37A-61. Sale of bonds Bonds of an authority may be sold at public or private sale at such price or prices as the authority shall determine. L.1960, c. 183, p. 740, s. 18. Amended by L.1977, c. 80, s. 2, eff. May 2, 1977.

40:37A-62. Filing copy of bond resolution; publication; effect 19. An 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 county, and if the public facility f…

40:37A-63. Covenants and agreements with holders of bonds Any bond resolution of an authority providing for or authorizing the issuance of any bonds may contain provisions, and such authority, in order to secure the payment of such bonds and in addition to its other powers, shall…

40:37A-64. Bond provisions (1) If the bond resolution of an 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 of this section, then if there shall …

40:37A-65. Receivers If the bond resolution of an 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 of section 21 of this act and shall further pro…

40:37A-66. Liability on bonds Neither the members of an 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 obligations issued by an authority pursuant to this act shall not…

40:37A-67. 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…

40:37A-68. Act as complete authority for issuance of bonds This act shall be complete authority for the issuance of bonds by an authority, and the provisions of any other law shall not apply to the issuance of such bonds. L.1960, c. 183, p. 747, s. 25, eff. Jan. 18, 1961.

40:37A-68.1. Contract or agreement to meet deficiency in revenues; approval No county improvement authority shall enter into any contract or agreement to meet any deficiency in its revenues in order to meet debt services on bonds, notes, or any other financing obligations for one…

40:37A-69. Eminent domain 26. Every authority is hereby empowered, in its own name but for the county or any beneficiary county, to acquire by purchase, gift, grant or devise and to take for public use real property, within or without the county or any beneficiary county, or any …

40:37A-70. Declaration of taking; effect Upon the filing by an authority of a complaint in any action to fix the compensation to be paid for any property or at any time thereafter, the authority may file with the clerk of the county in which such property is located and also with…

40:37A-71. Deposit of estimated compensation Upon the filing by an authority of a declaration of taking of property as provided in this act, the authority shall deposit with the Clerk of the Superior Court the amount of the estimated compensation stated in said declaration. In ad…

40:37A-72. Right of entry and use of land Upon the filing by an authority of a declaration of taking of property as provided in this act and the depositing with the Clerk of the Superior Court of the amount of the estimated compensation stated in said declaration, the authority, …

40:37A-73. Service of notice; payment Each authority shall cause notice of the filing of a declaration of taking of property as provided in this act and of the making of the deposit required by this act with respect thereto to be served upon each party to the action to fix the co…

40:37A-74. Abandonment of condemnation proceedings The authority shall not abandon any condemnation proceeding subsequent to the date upon which it has taken possession of the land or property as provided in this act. L.1960, c. 183, p. 751, s. 31, eff. Jan. 18, 1961.

40:37A-75. Additional powers In addition to the other powers conferred upon it by this act or by any other law and not in limitation thereof, every authority, in connection with construction or operation of any public facility, shall have power to make reasonable regulations for …

40:37A-76. Actions by municipalities or county 33. For the purpose of aiding an authority and co-operating in the planning, undertaking, acquisition, construction or operation of any public facility, the county or any beneficiary county or any municipality in any such county may …

40:37A-77. Sale, lease, loan, grant or conveyance of, or permit to use, real or personal property of county or municipality Any county by resolution of its governing body, municipality by ordinance of its governing body, governmental unit or person is hereby empowered, without an…

40:37A-78. Lease or other agreement with authority to use public facilities Any county, municipality, governmental unit or person is hereby empowered to enter into and perform any lease or other agreement with an authority for the lease to or use by such county, municipality, gov…

40:37A-79. Appropriations by county or municipality 36. For the purpose of aiding an authority and co-operating in the planning, undertaking, acquisition, construction or operation of any public facility, the county or any beneficiary county by resolution of its governing body, o…

40:37A-80 Guaranty of bonds. 37. a. For the purpose of aiding an authority in the planning, undertaking, acquisition, construction, financing or operation of any facility which the authority is authorized to undertake pursuant to section 11 of P.L.1960, c.183 (C.40:37A-54), the c…

40:37A-81. Pledge or assignment of lease or other agreement to secure bonds of authority Any lease or other agreement, and any instruments making or evidencing the same, may be pledged or assigned by the authority to secure its bonds and thereafter may not be modified except as p…

40:37A-82. Exemption of property of authority from levy and sale All property of an authority shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against an authority be a char…

40:37A-83. Payments to municipalities or political subdivisions in lieu of taxes Every authority and every municipality in which any property of the authority is located are hereby authorized and empowered to enter into agreements with respect to the payment by the authority to s…

40:37A-84. Bonds as legal investments Notwithstanding any restriction contained in any other law, the State and all public officers, municipalities, counties, political subdivisions and public bodies, and agencies thereof, all banks, trust companies, savings banks and institution…

40:37A-85. Tax exemptions All properties of an authority are hereby declared to be public property of a political subdivision of the State and those properties, and all public facilities, whether or not owned by the authority, are devoted to an essential public and governmental f…

40:37A-86. Guarantee of vested rights of bondholders The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant to a bond resolution of an authority adopted pursuant to this act that the State will not limit or alter the rig…