New Jersey Statutes
§ 40A:7-17 — Indebtedness of annexed municipality apportioned
New Jersey·Title 40A MUNICIPALITIES AND COUNTIES
The municipality to which the territory shall be annexed, shall be liable to pay a proper proportion of the bonded and other indebtedness of the municipality of which the annexed territory formerly formed a part, which portion of such indebtedness shall be ascertained in the manner hereinafter provided. L.1979, c. 181, s. 2, eff. Aug. 29, 1979.
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Nearby Sections
15
§ 40A:7-1
Law applicable in annexed territory§ 40A:7-10
Collection of unpaid taxes§ 40A:7-12
Annexation; petition and contents§ 40A:7-14
Law applicable; copy of ordinance filed§ 40A:7-15
Land plotted on municipal map§ 40A:7-16
Rights of residents after annexation§ 40A:7-19
Payment of indebtedness§ 40A:7-2
Rights of citizens