New Jersey Acts Saved from Repeal ACTS SAVED 15 § 5-9(11)

11. That it shall and may be lawful for the president and managers of any company formed in pursuance of this act, and they are hereby empowered to borrow any sum or sums of money for the erection and construction, maintaining and repairing of such dams, banks and other waterworks as the said company may from time to time order and direct, and may issue bonds of said company therefor, and for the security of the payment thereof, all the lands included in any said company shall be a pledge for the payment of its respective share, in whose hands the same may come.