33:1-19.5. Issuance of license or rejection of all bids; postponement or cancellation of sale; disposition of funds Upon the conclusion of a sale the issuing authority shall issue a license to the highest qualified bidder therefor upon payment of his bid and the license fee, or shall reject all bids if the highest bid is not accepted. A sale may be postponed or canceled at any time prior to the opening of the bids. Funds derived from the conduct of a sale shall be remitted to the municipal treasurer for the general use of the municipality. L.1981, c. 416, s. 3, eff. Jan. 9, 1982.
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