N.J.S.A. 32:3-8

Pledging credit or creating debt of states, counties or municipalities prohibited

32:3-8. Pledging credit or creating debt of states, counties or municipalities prohibited ARTICLE VII. Notwithstanding any provision of this agreement, the commission shall have no power to pledge the credit of the commonwealth of Pennsylvania or the credit of the state of New Jersey or the credit of any county, city, borough, village, township or other municipality of said commonwealth or of said state, or to create any debt of said commonwealth or of said state or of such municipality.

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This is the verbatim text of N.J.S.A. 32:3-8, 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.