New Jersey Acts Saved from Repeal ACTS SAVED 27 § 11-7(16)

16. The sinking fund commission shall, on or before the fifteenth day of December of each year, certify to the state treasurer the amount required for the payment of the interest falling due prior to December thirtieth of the year following the ensuing calendar year and not otherwise provided for, and the sinking fund requirements for the ensuing calendar year for all outstanding bonds, and the interest and sinking fund requirements, as above stipulated, for bonds it is proposed to issue in the ensuing calendar year. The said certificate of such commission shall be conclusive and binding upon the state treasurer and the state treasurer shall pay to the sinking fund commission the amount so certified from the tax hereby imposed and received by him, on or before the thirty-first day of December of the year following the date fixed for the certification. For the purpose of determining the amount of the fund in hand at any time the sinking fund commission shall value the securities and investments of the sinking funds at not exceeding their par value, and for the purpose of calculating the amount to be certified, any surplus in the sinking fund over and above the requirements as herein set forth, may be used to reduce the amount to be certified.