N.J.S.A. 40A:4-75

Liability on notes

40A:4-75. Liability on notes The power and obligation of a local unit to pay any note or obligation issued pursuant to this chapter shall be unlimited and the local unit shall have power and be obligated to levy ad valorem taxes upon all the taxable property within the local unit for the payment of such notes or obligations and interest thereon, without limitation of rate or amount. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 40A:4-75, 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.

N.J.S.A. 40A:4-75 — Liability on notes | Kyzer