New Jersey § 40:54-29.19 Appropriation for capital improvements;  borrowing

New Jersey Statutes

§ 40:54-29.19 — Appropriation for capital improvements; borrowing

New Jersey § 40:54-29.19

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:54-29.19 (Appropriation for capital improvements; borrowing) 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. § 40:54-29.19 (2026).

Text

Each municipality, to provide for such capital improvement, shall either:

(a)appropriate its proportionate share of the sum or sums for the purposes certified or agreed upon or determined in the same manner as other appropriations are made by it pursuant to the Local Budget Law (R.S. 40:2-1 et seq.); or (b) by ordinance appropriate such sum or sums for such purposes, pursuant to said ordinance borrow the sum or sums so appropriated and secure the repayment of the sum or sums so borrowed by the authorization and issuance of bonds or notes of the municipality pursuant to and in the manner and within the limitations prescribed by the Local Bond Law (R.S. 40:1-1 et seq.). L.1959, c. 155, p. 623, s. 17, eff. Sept. 4, 1959.

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Each municipality, to provide for such capital improvement, shall either: (a) appropriate its proportionate share of the sum or sums for the purposes certified or agreed upon or determined in the same manner as other appropriations are made by it pursuant to the Local Budget Law (R.S. 40:2-1 et seq.); or (b) by ordinance appropriate such sum or sums for such purposes, pursuant to said ordinance borrow the sum or sums so appropriated and secure the repayment of the sum or sums so borrowed by the authorization and issuance of bonds or notes of the municipality pursuant to and in the manner and within the limitations prescribed by the Local Bond Law (R.S. 40:1-1 et seq.). L.1959, c. 155, p. 623, s. 17, eff. Sept. 4, 1959.