reglab/housing_qa huggingface dataset:
NJ Rev Stat § 40A:2-39 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-39 - Application of proceeds

40A:2-39. Application of proceeds  The proceeds of the sale of obligations shall be applied only to the purposes for which such obligations are authorized. If, for any reason, any part of such proceeds are not necessary for such purposes, such part shall be used to pay such outstanding obligations, or if in the opinion of the governing body it is in the best interest of the local unit such part may be appropriated to and used to finance the cost of any other purpose or purposes for which bonds may be issued. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-40 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-40 - Annual debt statement

40A:2-40. Annual debt statement  The chief financial officer of each local unit shall, before the end of the first month of each fiscal year, make and file in the office of the clerk and of the director an annual debt statement, under oath, as of the last day of the preceding fiscal year, and such statement shall be a public record open to inspection. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-41 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-41 - Contents of annual debt statement

40A:2-41. Contents of annual debt statement  The annual debt statement shall be in form prescribed by the director and shall set forth as to the local unit: a. Gross debt; b. Deductions; c. Net debt; d. The equalized valuations of the taxable real estate, together with improvements, for the last 3 preceding fiscal years, and the average thereof; e. Net debt expressed as a percentage of such average of equalized valuations; and f. Any other information or detail required by law or by the director. The amount of any item which is indefinite or unascertainable may be estimated. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1964, c. 72, s. 5.
NJ Rev Stat § 40A:2-42 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-42 - Supplemental debt statement

40A:2-42. Supplemental debt statement  A supplemental debt statement shall be in form prescribed by the director and shall set forth as to the local unit: a. The net debt as stated in the annual debt statement or revision thereof last filed; the amount by which such net debt has been increased by the authorization of additional debt or decreased by payment of outstanding debt or reduction of the authorization to incur debt; b. The amounts and purposes separately itemized of obligations about to be authorized, together with any deductions which may be made on account of any such item; c. The net debt of the local unit as determined by addition of the net amounts stated in subsections a and b; d. The equalized valuations of the taxable real estate, together with improvements for the last 3 preceding years, and the average thereof as stated in the annual debt statement or revision thereof last filed; and e. Net debt expressed as a percentage of said average of equalized valuations. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1964, c. 72, s. 6.
NJ Rev Stat § 40A:2-43 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-43 - Gross debt

40A:2-43. Gross debt  Gross debt shall include all bonds and notes issued and authorized but not issued pursuant to this or any other law by the local unit, or guaranteed by the local unit, except tax anticipation notes, emergency notes, special emergency notes and utility revenue notes. Gross debt of a municipality shall also include that amount of the total of all the bonds and notes issued and authorized but not issued by any school district including the area of the municipality, which results from the application to such total of the ratio which the equalized valuation basis of the municipality bears to the sum of the equalized valuation basis of each municipality in any such school district. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1964, c. 72, s. 7.
NJ Rev Stat § 40A:2-44 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-44 - Deductions from gross debts

40A:2-44. Deductions from gross debts  40A:2-44. There shall be deducted from the gross debt of the local unit, to the extent included therein, the amount of bonds or notes issued and authorized but not issued: a. for school purposes by a municipality or by a school district with boundaries coextensive with such municipality or of which such municipality is a part (other than a regional school district) to the extent of the following percentages of the equalized valuation basis of such municipality as provided in section 18A:24-19 of the New Jersey Statutes. If such school district does not have title to any one of the facilities mentioned in such section, the authorization of debt for the procurement of such school facilities shall be deductible within the limitations prescribed in such section; b. for school purposes by a regional school district; c. for purposes which are self-liquidating as provided in this chapter, but only to the extent permitted by this chapter; d. by a public body other than the local unit and the principal and interest of which is guaranteed by the local unit but only to the extent permitted by this chapter or any other law; e. as bond anticipation notes in anticipation of bonds then authorized or issued; f. for which there are funds on hand or sinking funds applicable only to the payment thereof and not otherwise deductible, including the proceeds of any bonds or notes held for that purpose and any accounts receivable or amounts which may be payable from the Federal Government, this State or any public instrumentality thereof, which funds are applicable only to the payment of any part of the gross debt not otherwise deductible; g. for any other purpose for which a deduction is authorized by law; and h. for any purpose authorized pursuant to P.L.1997, c.24 (C.40:12-15.1 et seq.) which is otherwise bondable pursuant to the "Local Bond Law," N.J.S.40A:2-1 et seq. when the debt service on the obligations will be paid solely from a county or municipal trust fund created pursuant to P.L.1997, c.24 (C.40:12-15.1 et seq.). No deduction shall be allowed for any obligations authorized or issued to finance a purpose for which a deduction is allowed if, combined with a purpose for which a deduction may not be taken, or for any obligation issued to fund or refund bonds or notes if any of the outstanding bonds or notes paid, funded or refunded shall have been issued for or combined with a purpose or indebtedness for which no deduction can be taken under this chapter. L.1960, c.169, s.1; amended 1964, c.72, s.8; 1969, c.14; 1999, c.345.
NJ Rev Stat § 40A:2-45 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-45 - Self-liquidating purposes.

40A:2-45 Self-liquidating purposes.  40A:2-45. Any municipal public utility shall be deemed to be a self-liquidating purpose if the cash receipts from fees, rents or other charges, and for redevelopment utilities, taxes other than taxes assessed on real property, in a fiscal year are sufficient to meet operating and maintenance costs (exclusive of depreciation and obsolescence) and interest and debt redemption charges payable or accruing in such year without recourse to general taxation or the deficit, if any, anticipated in the dedicated utility assessment budget. There may be included in such cash receipts any fees, rents and other charges collected from other departments or utilities of the local unit at a rate not in excess of the fees, rents or other charges to other consumers, customers or users, or if there be no other consumers, customers or users properly comparable, then not in excess of the comparable fees, rents and other charges of privately owned or operated utilities or enterprises. Any municipal public utility may include interest on investments and deposits and appropriated surplus as revenues, in addition to the other revenues authorized by this section, in a determination of whether that municipal public utility shall be deemed to be a self-liquidating purpose. Amended 1964, c.72, s.9; 1991, c.196; 1996, c.76; 2009, c.90, s.16.
NJ Rev Stat § 40A:2-46 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-46 - Self-liquidating purposes during construction

40A:2-46. Self-liquidating purposes during construction  Any municipal public utility shall be deemed to be self-liquidating during the period of construction or acquisition and until it shall have been in operation for at least 1 fiscal year if the local government board or, in the case of a project consisting of acquisition of land areas needed for a redevelopment housing project, the Division of Planning and Development in the Department of Conservation and Economic Development shall have determined by order on the basis of a project report that the said municipal public utility will have an income sufficient to make it a self-liquidating purpose. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-47 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-47 - Self-liquidating improvements and extensions

40A:2-47. Self-liquidating improvements and extensions  Obligations to finance an improvement or extension of a municipal public utility shall be deemed to be for a self-liquidating purpose in the fiscal year in which the obligations to finance the same shall have been authorized or issued: a. if such utility would have been self-liquidating during the last fiscal year had there been included in the interest and debt redemption charges for such year an amount equal to interest for 1 year at the rate of 4 1/2 % per annum on such obligations, and the amount of the first installment of serial bonds legally issuable to finance such improvement or extension plus an amount for charges as aforesaid with respect to all bonds and notes authorized but not issued for such utility; b. if the local government board or, in the case of a project consisting of acquisition of land areas needed for a redevelopment housing project, the Division of Planning and Development in the Department of Conservation and Economic Development, shall determine by order on the basis of a project report that said utility would have been self-liquidating during the last preceding fiscal year if there had been included interest and debt redemption charges for said obligations and prospective income from said improvement or extension, or that said utility would have been self-liquidating if charges had been collected in said last preceding fiscal year as prescribed in said report. The local government board or, in the case of a project consisting of acquisition of land areas needed for a redevelopment housing project, the Division of Planning and Development in the Department of Conservation and Economic Development are hereby authorized and empowered to make any determination required by this chapter. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-48 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-48 - Self-liquidating utility deficits

40A:2-48. Self-liquidating utility deficits  The amount of the deficit in the income of a self-liquidating municipal public utility applicable to interest and debt redemption, or the prospective amount of such deficit as determined by the local government board or, in the case of a project undertaken pursuant to the urban redevelopment law, the Division of Planning and Development in the Department of Conservation and Economic Development, shall be capitalized at 5% and the capital sum so determined shall not be deductible from the gross debt. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-49 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-49 - Conclusiveness of authorization of obligations

40A:2-49. Conclusiveness of authorization of obligations  After 20 days after publication after final passage of a bond ordinance, the following shall be conclusively presumed: a. the accuracy, correctness and sufficiency of any annual or supplemental debt statement filed in connection therewith; b. any recitals or statements of fact contained in such ordinance or preamble or recital thereof; c. determinations in said ordinance as to purposes for which said obligations are authorized, the period or average period of usefulness, the maturities of any obligations, and the validity of the purpose or purposes for which authorized; d. the due and regular introduction, publication and final passage and adoption of such ordinance; e. the compliance with the provisions of this chapter and every other law of such ordinance and all matters in connection therewith, and the issuance of obligations authorized thereby or pursuant thereto by the local unit. The local unit and all other persons interested shall forever be estopped from denying that such ordinance or its final adoption or issuance of obligations thereunder do not comply with the provisions of this and every other law, or from questioning in any manner the validity of such ordinance or any obligations issued thereunder in any action or proceeding commenced after 20 days shall have elapsed from publication of such ordinance after final passage. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-50 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-50 - Conclusiveness of validity of obligations

40A:2-50. Conclusiveness of validity of obligations  After issuance, all obligations shall be conclusively presumed to be fully authorized and issued by all the laws of this State, and any person shall be estopped from questioning their sale, execution or delivery by the local unit. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
NJ Rev Stat § 40A:2-51 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-51 - Issuance of refunding bonds.

40A:2-51 Issuance of refunding bonds.  40A:2-51. Any local unit may incur indebtedness, borrow money, authorize and issue refunding bonds, notwithstanding any provision or limitation contained in this chapter or in any other law, and in any amount determined to be necessary by the governing body of the local unit and approved by the Local Finance Board, except as provided in subsection c. of this section, to effect the refunding for the purpose of: a. Paying, funding or refunding outstanding bonds of the local unit, including emergency appropriations, temporary emergency appropriations, advance funding of pension obligations as part of an early retirement program offered by the State, and amounts owing to others for taxes levied in the local unit, or any renewals or extensions thereof, or any bonds issued to fund or refund the same and whether or not prior to the maturity or earliest redemption date of the bonds to be refunded. b. Paying the cost of the issuance of such refunding bonds, including printing, advertising, accounting and financial and legal expenses. c. Issuance of refunding bonds to realize debt service savings on outstanding obligations without the approval of the local finance board when authorized by conditions set forth in rules and regulations of the local finance board and upon a resolution adopted by 2/3 vote of the full membership of the governing body. d. The sale and award of bonds by a finance officer who has been delegated that responsibility by resolution of the governing body in accordance with the advertised terms of public sale. The finance officer making any such sale shall report in writing to the governing body at the next meeting thereof as to the principal amount, interest rate and maturities of the bonds sold, along with the price obtained and the name of the purchaser. L.1960, c.169, s.1; amended 1978, c.36, s.1; 2003, c.15, s.9.
NJ Rev Stat § 40A:2-51.1 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-51.1 - Issuance of refunding bonds

40A:2-51.1. Issuance of refunding bonds  1. Notwithstanding the provisions of N.J.S.40A:2-51 to the contrary, a county or a municipality in which a pension fund has been established pursuant to P.L.1943, c.160 (C.43:10-18.1 et seq.), R.S.43:10-1 through R.S.43:10-18, P.L.1948, c.310 (C.43:10-18.50 et seq.), or P.L.1954, c.218 (C.43:13-22.3 et seq.), may incur indebtedness, borrow money, authorize and issue negotiable refunding bonds, and in any amount determined to be necessary by the county or the municipality and approved by the Local Finance Board to effect the refunding for the purpose of the actuarial liabilities of its pension system, in addition to the other purposes for which it may do the same under N.J.S.40A:2-51.  L.1985,c.67,s.1; amended 1994,c.185,s.1.
NJ Rev Stat § 40A:2-51.2 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-51.2 - Local unit authorized to issue bonds

40A:2-51.2. Local unit authorized to issue bonds  If a local unit shall require moneys for the purpose of assuring against adopting a budget which sets forth a deficit, the director may recommend that the Local Finance Board authorize the local unit to issue bonds, entitled "fiscal year adjustment bonds," authorized in accordance with the provisions governing refunding bonds for emergency appropriations set forth in N.J.S.40A:2-51 through 40A:2-60, except that the vote of the local governing body required for adoption of the bond ordinance or other action authorizing the sale of the bonds or bond anticipation notes shall be the same as required for adoption of the local budget. The proceeds of any fiscal year adjustment bonds shall be considered as anticipated revenues applicable to the expenditures for which appropriations are made in the transition year budget. In anticipation of the issuance of the bonds, bond anticipation notes may be issued in an amount not to exceed the estimate of the deficit in the transition year budget as determined by the director. Bond anticipation notes shall mature no later than one year from the date of issuance and may be renewed from time to time only with the permission of the Local Finance Board. L.1991,c.75,s.5.
NJ Rev Stat § 40A:2-51.3 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-51.3 - Issuance of refunding bonds by local government entity for certain ERI liabilities.

40A:2-51.3 Issuance of refunding bonds by local government entity for certain ERI liabilities.  1. Notwithstanding the provisions of N.J.S.40A:2-51 to the contrary, a county or municipality may incur indebtedness, borrow money, authorize and issue negotiable refunding bonds, in any amount determined to be necessary by the county or the municipality and approved by the Local Finance Board to effect the refunding for the purpose of retiring the present value of the unfunded accrued liability for early retirement incentive benefits granted pursuant to P.L.1991, c.229, P.L.1991, c.230, P.L.1993, c.138, P.L.1993, c.181, P.L.1993, c.99, P.L.1999, c.59, P.L.2003, c.128, and P.L.2003, c.130, in addition to the other purposes for which it may do the same under N.J.S.40A:2-51. The system actuary shall calculate the present value of the unfunded liability due and owing by the municipality or county on a date certain upon the request of the county or municipality. For purposes of this section, "county" means any county of any class and all boards or commissions organized under such county, including but not limited to welfare boards, boards of social services, park commissions and mosquito control authorities. L.2002,c.42,s.1; amended 2003, c.128, s.14; 2003 c.130, s.12.
NJ Rev Stat § 40A:2-52 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-52 - Authorization of refunding bonds.

40A:2-52 Authorization of refunding bonds.  40A:2-52. Refunding bonds shall be authorized by a refunding bond ordinance which shall be adopted in the manner prescribed for adoption of a bond ordinance, except that no down payment shall be required. Bonds to be paid, funded or refunded with respect to which a refunding bond ordinance has been adopted pursuant to the provisions of this chapter and not otherwise deductible shall be deducted from the gross debt of the local unit. To the extent such refunding bonds are authorized for purposes other than the refunding of outstanding bonds, such refunding bonds shall be deductible from gross debt. L.1960, c.169, s.1; amended 1978, c.36, s.2; 2003, c.15, s.10.
NJ Rev Stat § 40A:2-53 (2021)
2021 New Jersey Revised Statutes|Title 40A - Municipalities and Counties|Section 40A:2-53 - Contents of refunding bond ordinance

40A:2-53. Contents of refunding bond ordinance  A refunding bond ordinance shall contain in substance the following: a. An authorization of the issuance of the refunding bonds, stating in brief and general terms sufficient for reasonable identification the purpose or purposes for which said bonds are to be issued and the obligations to be paid, funded or refunded, and the amount of the cost of issuing such bonds which is included in the authorized principal amount thereof; and b. The principal amount of refunding bonds thereby authorized; and c. In either the refunding bond ordinance or a resolution adopted prior to the issuance of the refunding bonds such further provisions as the local government board may require or approve as to deposit, securing, regulation, investment, reinvestment, disposition or application of the proceeds of such refunding bonds, and matters in connection therewith, including the officer or officers of the local unit to be responsible therefor, and amortization or other provision for premiums or other losses incurred. Such refunding bond ordinance or resolution may also contain provisions, which shall be a part of the contract with the holders of such refunding bonds, as to the establishment of, and the making of appropriations for, reserves or sinking funds and the amount, source, securing, regulation and disposition thereof. Any matter relating to refunding bonds and not required to be contained in the refunding bond ordinance may be performed or determined by subsequent resolution of the governing body, or the performance or determination thereof delegated by resolution to a financial officer of the local unit. The local unit may enter into any contracts or agreements to implement the refunding program, including agreements with banking institutions with respect to the application of moneys deposited in a sinking fund for the payment of the refunding bonds at their maturity date to the purchase of obligations of the United States Government or obligations the principal of and interest on which are guaranteed by the United States Government or obligations of any agency or instrumentality of the United States Government without regard to any limitations as to the investment or deposit of moneys. L.1960, c. 169, s. 1, eff. Jan. 1, 1962. Amended by L.1978, c. 36, s. 3, eff. June 19, 1978.