Terms Used In New Jersey Statutes 40:62-132

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
The commission shall have no power to incur any liability on behalf of the municipalities and none of its debts, expenses or liabilities shall bind the municipalities except with their consent expressed by resolution of their respective governing bodies. The municipalities may from time to time make appropriations for the commission upon such terms and conditions as may be determined.