New Jersey § 52:27BB-44 Sinking funds;  amortization requirements

New Jersey Statutes

§ 52:27BB-44 — Sinking funds; amortization requirements

New Jersey § 52:27BB-44

Title 52STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

This text of New Jersey § 52:27BB-44 (Sinking funds; amortization requirements) 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. § 52:27BB-44 (2026).

Text

The director shall examine the calculations and tabulations of the conditions of sinking funds as submitted by a sinking fund commission of a political subdivision, and shall determine the sufficiency of the funds for the amortization of bonded debt in accordance with the standards fixed by law. If the director finds that the sinking funds are insufficient for such amortization, he shall certify to the sinking fund commission a statement of the amount required to make good the deficiency and the additional annual requirements to be made to the special sinking fund account as required by sections 40:3-20 and 40:3-24, both inclusive, of the Revised Statutes. L.1947, c. 151, p. 659, s. 44.

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The director shall examine the calculations and tabulations of the conditions of sinking funds as submitted by a sinking fund commission of a political subdivision, and shall determine the sufficiency of the funds for the amortization of bonded debt in accordance with the standards fixed by law. If the director finds that the sinking funds are insufficient for such amortization, he shall certify to the sinking fund commission a statement of the amount required to make good the deficiency and the additional annual requirements to be made to the special sinking fund account as required by sections 40:3-20 and 40:3-24, both inclusive, of the Revised Statutes. L.1947, c. 151, p. 659, s. 44.