New Jersey Statutes
§ 52:27-39 — Reduction in principal of outstanding notes or bonds prohibited
New Jersey·Title 52 STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Notwithstanding any provisions of this article the commission shall not approve any adjustment or composition, or plan presented pursuant to this article, which provides for the reduction in the principal amount of any outstanding notes or bonds of the municipality.
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Nearby Sections
15
§ 52:27-10
Rules; seal§ 52:27-13.1
Powers and duties of auditor§ 52:27-13.3
Special collectors; appointment§ 52:27-13.4
Application of proceeds of taxes§ 52:27-13.5
Manner of certifying resolution; binding effect§ 52:27-15
Public hearing on resolution§ 52:27-16
Adoption of resolution by municipality