New Jersey § 27:1B-27 Counties and municipalities;  temporary state aid anticipation notes

New Jersey Statutes

§ 27:1B-27 — Counties and municipalities; temporary state aid anticipation notes

New Jersey § 27:1B-27

Title 27HIGHWAYS

This text of New Jersey § 27:1B-27 (Counties and municipalities; temporary state aid anticipation notes) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 27:1B-27 (2026).

Text

When the commissioner shall notify the governing body of a county or municipality of the amount of State funds allocated to a project, the governing body may borrow money on temporary loan to an amount not to exceed the amount of the State funds allocated to the project, in anticipation of the payment of the amount of State funds so allocated to the county or municipality, and may apply the proceeds of the loan to the payment of the cost of the project. The temporary loan shall be repaid upon payment to the county or municipality of the sum, in anticipation of payment of which the loan was made. L.1984, c. 73, s. 27, eff. July 10, 1984.

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When the commissioner shall notify the governing body of a county or municipality of the amount of State funds allocated to a project, the governing body may borrow money on temporary loan to an amount not to exceed the amount of the State funds allocated to the project, in anticipation of the payment of the amount of State funds so allocated to the county or municipality, and may apply the proceeds of the loan to the payment of the cost of the project. The temporary loan shall be repaid upon payment to the county or municipality of the sum, in anticipation of payment of which the loan was made. L.1984, c. 73, s. 27, eff. July 10, 1984.