N.J.S.A. 40A:7-17

Indebtedness of annexed municipality apportioned

40A:7-17. Indebtedness of annexed municipality apportioned The municipality to which the territory shall be annexed, shall be liable to pay a proper proportion of the bonded and other indebtedness of the municipality of which the annexed territory formerly formed a part, which portion of such indebtedness shall be ascertained in the manner hereinafter provided. L.1979, c. 181, s. 2, eff. Aug. 29, 1979.

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This is the verbatim text of N.J.S.A. 40A:7-17, 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.

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