TOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES
MUNICIPAL REVENUE BONDS
33-B:9 Governmental Consents.
I. Bonds may be issued under this chapter without obtaining the consent of any department, division, commission, board, or agency of the state except as provided in paragraph II, and without any other proceedings or the happening of any condition or things other than those proceedings, conditions or things which are specifically required therefor by this chapter, and the validity of and security for any bonds issued by a municipality pursuant to this chapter shall not be affected by the existence or nonexistence of any such consent or other proceedings, condition or things.
II. If in the opinion of either the authorized officers or the state treasurer more than 1/2 of the revenues derived or expected to be derived from a revenue-producing facility will be in the form of rents, fees, grants or other moneys paid by the state, no bonds may be issued for the revenue-producing facility in excess of an amount approved for the purpose by the governor and council.
Source. 1988, 90:1, eff. June 17, 1988.