Current as of February 19, 2021 | Updated by FindLaw Staff
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When the sinking fund of any issue of term bonds shall equal the amount of the uncanceled bonds of such issue, no further contributions shall be required to be made thereto, except to make good any losses which may occur, and the earnings of such sinking fund may be used to reduce the total annual sinking fund requirements, as provided in section 40:3-16 of this title.
Cite this article: FindLaw.com - New Jersey Statutes Title 40. Municipalities and Counties 40 § 3-18 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-40-municipalities-and-counties/nj-st-sect-40-3-18/
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