Extends period of usefulness of fire engines for bonding purposes from 10 to 20 years; eliminates exclusion of passenger cars and station wagons.

Bill A736 amends New Jersey's Local Bond Law to extend the bonding period for fire engines, apparatus, and equipment from 10 to 20 years when purchased new. It also removes a prior exclusion that prevented passenger cars and station wagons from being included in bonding for municipal vehicle purchases, now allowing these vehicles to be financed for up to five years. This change directly affects municipalities issuing bonds for fire department equipment and standard municipal vehicles. The policy update streamlines how local governments finance and repay for these assets under the state's bonding framework.