52:27BB-54. Purpose of article
59 words·~1 min read·
/nj/52-21A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of this article is to make provision for the imposition of special restraints upon municipalities in, or in danger of falling into, unsound financial condition and in this way to forestall serious defaults upon local obligations and demoralized finances that burden local taxpayers and destroy the efficiency of local services.
L.1947, c. 151, p. 662, s. 54.