New Jersey Statutes
§ 54:5-136 — Operating plan filed by joint municipal lien pool.
New Jersey·Title 54 TAXATION
7.Prior to any initial bulk sale, public sale at auction or arrangement for use as collateral for a bond or note of municipal liens by a joint municipal lien pool, the pool shall file an operating plan for review and approval of the Local Finance Board. The operating plan shall include the procedure by which the sale, auction or issuance of bonds or notes shall be accomplished along with a method of distribution of revenues that exceed the costs of operating the activities of the pool. The Local Finance Board shall ensure that the operating plan is fiscally prudent, that the fees and costs to be incurred, including those for professional contracts, are appropriate and reasonable, and that the plan meets such other criteria as the board deems necessary. L.1997,c.274,s.7.
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Nearby Sections
15
§ 54:5-1
Short title§ 54:5-104.100
Conveyance of outstanding interest against certain residential realty; payment; action to compel conveyance§ 54:5-104.101
Applicability of law§ 54:5-104.102
Benefits and disabilities; application to successors in interest; agreements to defeat operation of Act§ 54:5-104.103
Definition of phrase "thought to be owned"§ 54:5-104.29
Short title§ 54:5-104.33
No personal judgment shall be entered§ 54:5-104.35
Resolution by governing body§ 54:5-104.36
Jurisdiction§ 54:5-104.37
Fees to be paid on institution of action§ 54:5-104.41
Complaint to be filed with tax collector; county recording officer and Attorney-General§ 54:5-104.42
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