New Jersey Statutes 40:34A-8. Authority of municipality to incur expense
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Terms Used In New Jersey Statutes 40:34A-8
- Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Statute: A law passed by a legislature.
In connection with any public improvements made by any municipality in exercising the powers herein granted or referred to, such municipality may incur the entire expense thereof. Any law or statute to the contrary notwithstanding, any sale, lease, loan, grant, gift, conveyance, contract, pledge or agreement provided for in this act to be made by any municipality may be made by such municipality without prior appropriation therefor, or any referendum, appraisal, public notice, advertisement or bidding, and without the consent of any board, officer or other agency of the State.
L.1972, c. 83, s. 8, eff. July 10, 1972.