New Jersey Statutes 40A:31-18. Contracts entered into prior to appropriations therefor
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Terms Used In New Jersey Statutes 40A:31-18
- 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.
- local unit: means a county or municipality. See New Jersey Statutes 40A:1-1
A local unit shall have the power to authorize, by resolution, officials to enter into and execute a contract pursuant to this act for such periods of time and under such terms and conditions as are deemed proper and necessary, notwithstanding that no appropriation was made or provided to cover the estimated cost of the contract. The governing body of each contracting local unit shall have full power and authority to do and perform all acts and things provided under the terms and conditions of the contract.
Source: C. 40:14C-10 (P.L.1979, c.451, s.10)
L.1989,c.109,s.1.