New Jersey Statutes 40:62-34. Income not part of municipal funds; management; inapplication of “local budget law”
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Terms Used In New Jersey Statutes 40:62-34
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The income herein referred to shall not be deposited in the municipal treasury and shall not become a part of the general finances of the municipality and shall not be required to be withdrawn by ordinance. The ordinance herein provided or any amendment thereto shall provide for all necessary regulations safeguarding the collection and expenditure of such funds.
It is the intention of sections 40:62-27 to 40:62-34 of this Title to enable the municipality to operate such station or hall in the businesslike manner similar to the methods that would be employed if the station or hall was operated by a private and not a municipal corporation, and that the provisions of chapter two of Title 40 of the Revised Statutes, the “local budget law,” Revised Statutes 40:2, and any amendments or supplements thereto, shall not be deemed to apply to such station or hall.
Amended by L.1939, c. 38, p. 55, s. 2, eff. April 13, 1939.