New Jersey Statutes 40:5-2.6. Notes or other obligations; raising funds to relieve loss from general conflagration
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Terms Used In New Jersey Statutes 40:5-2.6
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
Any county, borough, township, city, village or other municipality is hereby authorized to execute and deliver its note or other obligation to raise the funds contemplated herein, which note or other obligation shall recite:
(a) The general nature of the purpose of raising said moneys.
(b) That the note or other obligation is in the nature of an emergency and shall be retired within one year from its issuance.
(c) That said note or other obligation is issued pursuant to this law.
(d) That such note or obligation is an exception to the general laws of this State relative to limitation on county and municipal indebtedness.
L.1941, c. 48, p. 130, s. 6, eff. April 23, 1941.