New Jersey Acts Saved from Repeal ACTS SAVED 40 § 1-91(2)

2. Any municipality, county, or board of education of any school district of this state shall have the power to enter into an agreement with the holder or holders of any obligations of said municipality, county, or school district maturing in the years 1933, 1934, 1935, 1936, and 1937 extending the time for the payment of the principal of said obligations for a period not exceeding three years from the date of the original maturity.

Said agreement may provide for the payment of any interest on said obligation not exceeding six per cent (6%) per annum, notwithstanding the rate of interest provided on said bonds.