App.A:4-31.8. State not obligated
105 words·~1 min read·
/nj/title-app-a/chapter-4/app-a-4-31-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
8. Nothing in this act shall be construed as creating or implying any duty on the part of the state to assure to any municipality issuing notes under this act, or to the holder of any such notes, that any percentage of the special taxes against which such notes were issued will in fact be collected or is legally payable, or that any deficiency in such special taxes should be made up or compensated for in any way by the state or in any other way except by inclusion in the budget or tax ordinance of such municipality.
(L.1935, c. 199, s. 8, p. 481.)