52:27-17. Other laws not applicable; debt statements as including obligations issued after December 31, 1946
138 words·~1 min read·
/nj/title-52/chapter-27/52-27-17·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Such resolutions and any notes or bonds issued thereunder shall not be subject to the limitations or other provisions of any other law. Notwithstanding the provisions of any other law, no notes or bonds issued after December thirty-first, one thousand nine hundred and forty-six by any municipality pursuant to this chapter shall be included in computing either the gross debt or the net debt of the municipality in any annual debt statement or in any supplemental debt statement filed in connection with the authorization of bonds or notes for other purposes, unless, by provision or recital in such resolution or in such notes or bonds, the faith and credit of such municipality shall have been pledged for the payment of principal of or interest on such notes or bonds.
Amended by L.1947, c. 54, p. 189, s. 1.