New Jersey § 40A:2-48 Self-liquidating utility deficits

New Jersey Statutes

§ 40A:2-48 — Self-liquidating utility deficits

New Jersey § 40A:2-48

Title 40AMUNICIPALITIES AND COUNTIES

This text of New Jersey § 40A:2-48 (Self-liquidating utility deficits) 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. § 40A:2-48 (2026).

Text

The amount of the deficit in the income of a self-liquidating municipal public utility applicable to interest and debt redemption, or the prospective amount of such deficit as determined by the local government board or, in the case of a project undertaken pursuant to the urban redevelopment law, the Division of Planning and Development in the Department of Conservation and Economic Development, shall be capitalized at 5% and the capital sum so determined shall not be deductible from the gross debt. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.

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The amount of the deficit in the income of a self-liquidating municipal public utility applicable to interest and debt redemption, or the prospective amount of such deficit as determined by the local government board or, in the case of a project undertaken pursuant to the urban redevelopment law, the Division of Planning and Development in the Department of Conservation and Economic Development, shall be capitalized at 5% and the capital sum so determined shall not be deductible from the gross debt. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.