New Jersey Acts Saved from Repeal ACTS SAVED 27 § 17-1(8)

8. That in order to raise money to pay the costs, charges and expenses in laying out, opening, constructing and improving such road in accordance with the provisions of this act, and all moneys required or necessary for any of the purposes of this act, including money necessary to pay for awards of the commissioners or finding of the jury as herein provided, it shall be lawful for such board of chosen freeholders from time to time, either before or while the improvement provided for as aforesaid is in progress, by resolution, to cause the bonds of such county, in the name of such board of chosen freeholders, to be issued for the same, in such sums as the board may deem proper; that the moneys realized from such bonds shall be paid to and received by the county collector and be by him applied to the payment of the cost, charges and expenses of, in and about the laying out, opening, constructing and improving such road or the certificate of indebtedness issued thereon or therefor, as directed by resolution of said board; that the bonds issued may be either coupon or registered bonds as such board of chosen freeholders may determine, and the same may be made payable, both principal and interest, at the office of the county collector of said county; said bonds shall be sold by the board of chosen freeholders of said county upon the orders and resolutions thereof, either upon bids for the same duly advertised for or otherwise; provided, that said bonds shall in no case be sold less than par; the director of such board and the county collector of such county shall sign said bonds, and the same shall be sealed with the seal of the county; the county collector shall number and register the same; the registered bonds may be exchanged for coupon bonds and coupon bonds be exchanged for registered bonds, at the request of the holder thereof; provided, that such board of chosen freeholders by resolution shall consent to such exchange, and said bonds shall bear such interest as such board shall determine, not exceeding five per cent per annum, and said interest shall be paid semiannually, and the said bonds shall have such time to run as said board of chosen freeholders may at the time of issue thereof by resolution determine, not exceeding thirty years, and the costs, charges and expenses aforesaid, incurred in the laying out, opening, constructing and improving said road as provided for by this act, shall be paid in no other manner; and provided, that the issue of such bonds, in all, shall not exceed the sum of one million dollars.