ASSEMBLY, No. 1950

STATE OF NEW JERSEY

INTRODUCED MAY 6, 1996

By Assemblymen R. SMITH and GREEN

An Act concerning the terms and conditions for the sale of certain surplus real property owned by the State and amending P.L.1994, c.83.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Section 1 of P.L.1994, c.83 is amended to read as follows:

    1. The Department of Military and Veterans' Affairs is authorized to sell and convey as surplus real property to the Borough of Bound Brook all of the State's interest in improvements, known as the Bound Brook Armory, situated on 5.6 acres located in the Borough of Bound Brook, Somerset County. The property is located at Tea Street and Highway 28 and designated as Block 68, Lot 1 on the Borough of Bound Brook tax map. [The sale shall be upon terms and conditions approved by the State House Commission]Notwithstanding any agreement or mortgage note to the contrary entered into between the State and the Borough of Bound Brook prior to the effective date of this amendatory act (P.L. , c. ) (now pending before the Legislature as this bill), the consideration to be paid to the State by the Borough of Bound Brook for the sale and convenyance of the property shall be one dollar.

(cf: P.L.1994, c.83, s.1)

    2. This act shall take effect immediately.

STATEMENT

    This bill amends P.L.1994, c.83, which permitted the sale of Bound Brook Armory to the Borough of Bound Brook. The parcel was originally conveyed to the State by the borough for one dollar. The borough believes that it should be transferred back for the same consideration since the borough does not intend to utilize the improvements made by the State to the property.

Sets price for State sale of Bound Brook Armory to Borough of Bound Brook.