New Jersey § 40A:4-89 Issuance of notes.

New Jersey Statutes

§ 40A:4-89 — Issuance of notes.

New Jersey § 40A:4-89

Title 40AMUNICIPALITIES AND COUNTIES

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Bluebook

N.J. Stat. Ann. § 40A:4-89 (2026).

Text

3.Any municipality that has ended the previous budget year with a deficit in operations caused, whether in whole or in part, by obligations created from tax appeals, may issue notes with the approval of the Local Finance Board on such conditions as the Local Finance Board deems appropriate. The amount of notes authorized pursuant to this provision shall not exceed the cash payments or tax credits due to tax appeals and shall be authorized by a bond ordinance approved by the Local Finance Board. L.2011, c.224, s.3.

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3. Any municipality that has ended the previous budget year with a deficit in operations caused, whether in whole or in part, by obligations created from tax appeals, may issue notes with the approval of the Local Finance Board on such conditions as the Local Finance Board deems appropriate. The amount of notes authorized pursuant to this provision shall not exceed the cash payments or tax credits due to tax appeals and shall be authorized by a bond ordinance approved by the Local Finance Board. L.2011, c.224, s.3.