New Jersey Acts Saved from Repeal ACTS SAVED 12 § 3-37(7)

1. Whenever the board having control of the finances of any city of this state shall apply to the commissioners appointed under an act to which this is a further supplement for a lease or grant to said city of any riparian lands lying at the foot of a street or any of the streets of said city, such lease or grant shall contain a provision that said lands are to be used for a public purpose only, and the said commissioners may in their discretion fix the rental for such lease, or the consideration to be paid for such grant, at such sum as in their discretion shall be a reasonable price for the same, having due regard to the fact that said lands embraced in said lease or grant are to be devoted for public purposes only.