New Jersey Statutes 40A:4-37. Dedicated assessment budget
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Terms Used In New Jersey Statutes 40A:4-37
- 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
- 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
Every dedicated assessment budget shall include revenues derived from the collection of special assessments on property specially benefited. No amount shall be stated in the budget in excess of the required appropriation to which such revenues are applicable or in excess of the amount of the revenues so derived, held in cash at the beginning of the fiscal year. Nothing herein contained shall prevent a local unit from paying in full, or on account at maturity, any note or notes to which such revenues are applicable, even though such note or notes may not have been included in such dedicated budget.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.