City of Clifton, NJ
Passaic County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Municipal Council of the City of Clifton 1-6-1970 by Ord. No. 3955 (Article 6 of Chapter 12 of the Revised Ordinances of the City of Clifton, New Jersey, 1960). Amendments noted where applicable.]

§ 9-1 Rate of interest in preexisting ordinances amended.

All ordinances heretofore adopted authorizing the issuance of bonds or bonds and notes of the City and all resolutions authorizing the issuance of notes in anticipation of the issuance of bonds which recite that the bonds or notes thereby authorized shall bear interest at a rate which shall not exceed 6% per annum are hereby amended so as to recite that all such bonds and notes issued in anticipation of such bonds shall bear interest at a rate per annum within the limitations prescribed by law.