N.J. Stat. § 32:1-114

The obligations which may be issued by the port authority for the construction of said bridge and for purposes incidental thereto are hereby made securities in which all state and municipal officers and bodies, all banks, bankers, trust companies, saving banks, saving and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries, may properly and legally invest any funds belonging to them, including capital, or within their control; and said obligations are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or agency for any purpose for which bonds or other obligations of this state may be deposited. L.1927, c. 3, s. 8, p. 20.