New Jersey Statutes
§ App.A:3-5 — Financing projects; municipal bonds authorized; special assessments as liens.
5.Any municipality may authorize and issue to the federal government its negotiable bonds for the financing of a public works project, part of the cost of which is to be specially assessed on property specially benefited, before such project has been completed or such special assessment has been confirmed; in such case, the governing body shall estimate by resolution the part of the cost which will be specially assessed and the bonds issued to finance such part shall mature in annual installments, the first of which shall become due not more than three years and the last of which shall become due not more than fifteen years from the date of the bonds. Special assessments levied pursuant to an ordinance or resolution adopted under this subsection shall constitute a continuing municipal lie
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New Jersey § App.A:3-5 (Financing projects; municipal bonds authorized; special assessments as liens.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ App.A:3-1
Definitions§ App.A:3-10
Other legislation not affected§ App.A:3-11
Pending proceedings under other law; continuance§ App.A:3-13
Effective date§ App.A:3-16
Trust fund to meet payments§ App.A:3-17
Effect of act as contract; enforcement§ App.A:3-19
Effective date§ App.A:3-2
Grants or loans; application and acceptance§ App.A:3-22
Effective date