N.J.S.A. 40:37A-68.1 — Contract or agreement to meet deficiency in revenues; approval

40:37A-68.1. Contract or agreement to meet deficiency in revenues; approval No county improvement authority shall enter into any contract or agreement to meet any deficiency in its revenues in order to meet debt services on bonds, notes, or any other financing obligations for one or more housing projects or developments on any housing or mortgage financing, or for any operating or maintenance expenses of such authority for one or more housing projects or developments, unless the Director of the Division of Local Government Services, after reviewing such contract or agreement and the ability of any party to such contract or agreement to make any payments which may be required, shall give his approval. L.1979, c. 275, s. 42, eff. Jan. 3, 1980.

This is the verbatim text of N.J.S.A. 40:37A-68.1, 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.