N.J.S.A. 40:48-17.5 — Financing project; bonds; use of proceeds to repay federal advances

40:48-17.5. Financing project; bonds; use of proceeds to repay federal advances Before undertaking any public project for which plans are prepared in accordance with such an agreement, the municipality shall, either by an appropriation lawfully made or by an authorization of bonds, make available the funds necessary to make any repayment required by such agreement. Notwithstanding the provisions of any other law, moneys raised for such public project by the issuance of bonds duly authorized at any time prior to the undertaking of such public project may, if the bond ordinance authorizing the bonds shall so provide, be used to make any such repayment. L.1946, c. 101, p. 324, s. 2.

This is the verbatim text of N.J.S.A. 40:48-17.5, 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.