New Jersey Acts Saved from Repeal ACTS SAVED 40 § 141-1(36)

2. Should the legal electors of such town at such election vote an additional sum for such waterworks, then it shall be the duty of the mayor and council or other governing body of such town to issue the bonds of such town for said sum, said bonds to bear a rate of interest not exceeding the legal rate payable semiannually, the principal thereof to be payable in thirty years from the date thereof, or sooner, at the option of said town, and it shall be the duty of the treasurer or other disbursing officer thereof to make sale of the bonds so issued at not less than their par value, and to pay the proceeds of said sale to said board of water commissioners to be by them appropriated according to the provisions of said act; the purchaser or holder of said bonds shall not be obliged to ascertain that the act to which this act is a supplement has been adopted at a special election, or that the sum for which said bonds are issued has been voted at a special election as provided in this act, but said bonds shall contain a recital that they are issued pursuant to this act, which recital shall be conclusive evidence of the validity and the regularity of their issue.