N.J.S.A. 18A:7A-46.6 — Debt service part of municipal budget.

18A:7A-46.6 Debt service part of municipal budget. 6. The debt service on bonds, notes and other obligations authorized pursuant to P.L.1991, c.139 (C.18A:7A-46.1 et seq.) shall be appropriated and made part of the municipal budget and raised through the annual municipal tax levy. However, all debt service payments shall be included in the budget of the school district under full State intervention as the sum necessary for interest and debt redemption charges and shall be eligible for State education aid in the year in which the appropriation and expenditure are made. L.1991,c.139,s.6; amended 2005, c.235, s.25.

This is the verbatim text of N.J.S.A. 18A:7A-46.6, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.