New Jersey Statutes 40A:4-27. Miscellaneous revenues; sale of property
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Terms Used In New Jersey Statutes 40A:4-27
- budget: means the budget of a local unit. See New Jersey Statutes 40A:1-1
- local unit: means a county or municipality. See New Jersey Statutes 40A:1-1
- 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.
40A:4-27. A local unit may anticipate as a miscellaneous revenue the total amount of all payments due and payable to the local unit during the fiscal year, directly or indirectly as a result of the sale of property by the local unit, when the obligation to make such payment is entered into prior to the adoption of the budget.
Amended 1991, c.75, s.18; 1994, c.72, s.13; 2000, c.126, s.17.