40:5-2.6. Notes or other obligations; raising funds to relieve loss from general conflagration
117 words·~1 min read·
/nj/title-40/chapter-5/40-5-2-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any county, borough, township, city, village or other municipality is hereby authorized to execute and deliver its note or other obligation to raise the funds contemplated herein, which note or other obligation shall recite:
(a)The general nature of the purpose of raising said moneys.
(b)That the note or other obligation is in the nature of an emergency and shall be retired within one year from its issuance.
(c)That said note or other obligation is issued pursuant to this law.
(d)That such note or obligation is an exception to the general laws of this State relative to limitation on county and municipal indebtedness.
L.1941, c. 48, p. 130, s. 6, eff. April 23, 1941.