N.J.S.A. 40:63-130 — Temporary obligations to finance work; renewal

40:63-130. Temporary obligations to finance work; renewal For the purpose of defraying the costs and expenses of the construction of such improvement or works and their appurtenances and connections as authorized by this article in respect of which an assessment for benefits may be made on lands and real estate situated in any such contracting municipality, the governing body or board having charge of the finances of any such contracting municipality may, if necessary, borrow money and secure the payment of the same by the notes and other temporary obligations of such municipality. Such notes and obligations may be renewed from time to time until the work of such improvements be done, or the assessments for benefits confirmed. When so confirmed such body or board shall provide for the costs and expenses of the improvements in the manner hereinafter in this article provided.

This is the verbatim text of N.J.S.A. 40:63-130, 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.