reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-25 Budget provisions

App.A:4-25. Budget provisions
7. There shall be included in every budget or tax ordinance of any municipality which shall issue bonds under this act adopted in or for any subsequent fiscal year, unless and until all of such bonds and any renewals or extensions thereof shall have been canceled and paid in full in cash, an appropriation under the caption "reserve for uncollected taxes" , sufficient in amount so that the anticipated cash receipts for the fiscal year for which such budget or tax ordinance is adopted (hereinafter referred to as the "current fiscal year" ), estimated and computed in accordance with section eight of this act, shall equal or exceed the sum of (a) the amounts of all appropriations included in such budget or tax ordinance (except such appropriation under the caption, "reserve for uncollected taxes" ), (b) the amounts due or to become due for school, county, state and local district taxes prior to the end of the current fiscal year, (c) the amounts required for the payment of principal and interest during the current fiscal year upon any indebtedness incurred for the creation of any municipal enterprise or utility and of the operating and upkeep cost of such municipal enterprise or utility during such current fiscal year, (d) the amounts required for the payment of principal and interest during the current fiscal year on bonds payable or to be payable in whole or in part out of special assessments on property specially benefited and (e) the amounts of any other anticipated current expenditures of the municipality for current fiscal year, each of the items of which sum is hereinafter for brevity referred to as "lawful yearly expenditure" . In the event that the exact amount of any such lawful yearly expenditure shall not be known at the time of the adoption of such budget or tax ordinance, then the amount thereof shall be estimated by resolution of the governing body of the municipality; provided, however, that such estimate shall not be less in amount than the amount of such lawful yearly expenditure for the next preceding fiscal year. In the event that any lawful yearly expenditure shall be included under any one of the above subdivisions (a), (b), (c), (d) and (e), then it shall not be necessary to include such lawful yearly expenditure under any other of said subdivisions. In the event that the liability and actual cash disbursements of the municipality in the current fiscal year for lawful yearly expenditures shall exceed the actual cash receipts in such current fiscal year applicable to such lawful yearly expenditures, there shall be included in the budget or tax ordinance of the municipality adopted in or for the following fiscal year, an appropriation under the caption "cash deficit of preceding year" in an amount equal to or exceeding the amount of such excess of liability and cash disbursements over cash receipts.
(L.1934, c. 60, s. 7, p. 169.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-27 Ordinances submitted to state auditor; adoption; auditor's expenses included; contractual effect of certain provisions of law

App.A:4-27. Ordinances submitted to state auditor; adoption; auditor's expenses included; contractual effect of certain provisions of law
9. No budget or tax ordinance shall be adopted by the governing body of any municipality which shall issue bonds under this act unless and until all of such bonds and any renewals or extensions thereof shall have been canceled and paid in full in cash, unless a copy of such budget or tax ordinance has been submitted to the state auditor and the state auditor has certified upon such copy that such budget or tax ordinance complies with all the requirements of this act. Before making any such certificate, the state auditor is hereby empowered and directed to examine into and approve the appropriations required by this act to be included in such budget or tax ordinance, under the caption "reserve for uncollected taxes" and "cash deficit of preceding year" and any estimates, computations or calculations made in connection therewith, and to require the production of any or all such papers, documents, witnesses and information and make such audits and such other investigation and do all such other acts and things as he may deem advisable, and he is hereby empowered and directed to include such appropriations calculated in pursuance of this act in any such budget or tax ordinance or in any tax levy in the municipality. Any budget or tax ordinance may be finally adopted by the governing body of a municipality at any time within ten days after the state auditor shall have made the certificate with respect thereto provided for by this section, whether or not the time for the final adoption thereof prescribed by any other act shall have passed. Any expenditure by the state auditor incurred in making any such audit, examination or investigation shall be charged to and recovered from the municipality and may be included by him in the budget or tax ordinance so examined and investigated or in any tax levy in such municipality. The provisions of sections seven and eight of this act shall constitute and be deemed a contract between the holders of any bonds issued under this act and the municipality which shall have issued the same, and shall be enforceable by mandamus or other appropriate action, suit or proceeding at law or in equity instituted by any such holder on behalf of all the other holders thereof, and/or by the owner of any property subject to taxation in such municipality; provided, however, that such provisions and any contract or contracts constituted thereby shall in any event be subject to repeal, alteration, abrogation or amendment at the will of the legislature on and after January first, one thousand nine hundred and thirty-nine.
(L.1934, c. 60, s. 9, p. 173.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-28 Definitions

App.A:4-28. Definitions
10. The following terms whenever used or referred to in this act, shall have the following meanings unless a different meaning clearly appears from the context:
(a) The term "governing body" shall mean the body or board, by whatsoever name it may be known, having charge of the finances of a municipality.
(b) The term "fiscal year" shall mean the fiscal year of a municipality.
(L.1934, c. 60, s. 10, p. 174.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-29 Powers cumulative

App.A:4-29. Powers cumulative
11. The powers granted by this act are cumulative and are granted in addition to and not in substitution for the existing powers of municipalities. In so far as the provisions of this act are inconsistent with the provisions of any act, general or special, the provisions of this act shall be controlling.
(L.1934, c. 60, s. 11, p. 175.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-30 Constitutional severability of provisions

App.A:4-30. Constitutional severability of provisions
12. If any one or more sections, clauses, sentences, or parts of this act shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining sections, clauses, sentences or parts thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
(L.1934, c. 60, s. 12, p. 175.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.1 Bonds to refer to original act; definitions

App.A:4-31.1. Bonds to refer to original act; definitions
1. Any municipality as defined in the act to which this act is a supplement (hereinafter referred to as the "original act" ), which shall hereafter authorize the issuance of bonds pursuant to the original act, may by provision in the ordinance authorizing such bonds reserve the privileges granted by this act. Any bonds issued pursuant to such ordinance shall contain in the body thereof a recital that they are issued pursuant to the original act as hereby supplemented, specifically identifying this act by reference to the date of its approval and its chapter number. The term "special taxes" , as used and applied in this act, shall mean any taxes on real estate used for railroad and canal purposes in a municipality separately valued and assessed under the provisions of subdivision two (2) of section three (3) of an act entitled "An act to revise and amend "An act for the taxation of railroad and canal property,' approved April tenth, one thousand eight hundred and eighty-four," approved March twenty-seventh, one thousand eight hundred and eighty-eight, and commonly known as "second class railroad taxes." The term "year of issuance" , as used and applied in this act, shall mean the calendar year in which bonds containing the recital required by this section are issued by a municipality.
(L.1935, c. 199, s. 1, p. 477.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.2 Tax receipts may be anticipated in estimating appropriation for reserve for uncollected taxes

App.A:4-31.2. Tax receipts may be anticipated in estimating appropriation for reserve for uncollected taxes
2. In estimating the cash receipts for any fiscal year for the purpose of determining the amount of the appropriation under the caption "reserve for uncollected taxes" , required by section seven of the original act to be included in the budget or tax ordinance of any municipality which shall have issued bonds containing the recital required by section one of this act (hereinafter referred to as "issuing municipality" ), the receipt may be anticipated of eighty per cent (80%) of any special taxes levied or to be levied and payable in such fiscal year.
(L.1935, c. 199, s. 2, p. 478.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.3 Proceeds of sale of notes deemed cash receipts

App.A:4-31.3. Proceeds of sale of notes deemed cash receipts
3. In computing the amount of any appropriation under the caption "cash deficit of preceding year" required by section seven of the original act to be included in the budget or tax ordinance of any issuing municipality, the proceeds of the sale during the preceding fiscal year of any notes issued under this act and applied to the lawful yearly expenditures of such preceding fiscal year shall be deemed to be cash receipts in and of such preceding fiscal year, to the extent only that such proceeds, together with any moneys received during such preceding fiscal year in payment of special taxes levied and payable in such preceding fiscal year, do not exceed eighty per cent (80%) of the total amount of special taxes levied and payable in such preceding fiscal year.
(L.1935, c. 199, s. 3, p. 478.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.4 Issue of special tax notes authorized; requisites and effect

App.A:4-31.4. Issue of special tax notes authorized; requisites and effect
4. To provide moneys for the purposes for which special taxes may or are to be levied in any year beginning with the year of issuance, any issuing municipality may issue for such year and from time to time renew its negotiable notes, each to be known as "Special Tax Note of 19 (stating the year of levy of such taxes)" , and each to run with its renewals for a period of not exceeding five (5) years from its date, to an amount for each year which, together with all other such notes of such year then outstanding, will not exceed eighty per cent (80%) of the amount of special taxes levied or to be levied in such year, less the amount of any such taxes of such year which may have been collected at the time of issue or renewal of such notes as the case may be. If any such special taxes for any such year are collected by such municipality after such notes are issued, then until the amount of such notes issued against the same have been correspondingly reduced, the amount of such collections shall be charged against the borrowing power of the current year, or, if that borrowing power has been already used then against the borrowing power of the next following year. Any such notes (a) shall be authorized by resolution; (b) may, and if issued for a period exceeding one (1) year, shall be made subject to redemption at not exceeding par and accrued interest at the option of the municipality; (c) shall bear interest at not exceeding six per cent (6%) per annum; (d) shall be issued in such form and executed in such manner as may be prescribed by resolution; (e) may be sold at not less than par and accrued interest at private sale without previous public offering either by resolution or by a financial officer authorized to sell such notes by resolution. Any financial officer making any such sale shall report in writing to the governing body at the next meeting the amount, description, interest rate and maturities of the notes sold, the price obtained and the name of the purchaser, and such report shall be entered in full on the minutes of such meeting. Such notes shall not be deemed tax anticipation, tax revenue or tax title bonds or notes. Provision need not be made in the budget of any year for the payment of that principal of any such notes maturing in such year if such notes may lawfully be renewed for a period extending beyond such year, but such provision must be made in each year for the payment of interest on all such notes. The power and obligation of the municipality to pay such notes shall be unlimited and the municipality shall have power and be obligated to levy ad valorem taxes upon all the taxable property within the municipality for the payment of such notes and interest thereon without limitation of rate or amount.
(L.1935, c. 199, s. 4, p. 478.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.5 Budget provision for payment of outstanding notes

App.A:4-31.5. Budget provision for payment of outstanding notes
5. Notwithstanding any provision to the contrary in section four of this act, there shall be included in each budget or tax ordinance of any municipality an appropriation for the payment of any notes issued under this act outstanding at the time of the submission of such budget in an amount not less than the amount, if any, by which the sum of the principal amount of such notes and the amount of all moneys previously received since the beginning of the year of issuance in payment of special taxes whether levied before or after the year of issuance, exceeds eighty per cent (80%) of the total amount of such special taxes which may have been levied and payable in any preceding fiscal year since the beginning of the year of issuance.
(L.1935, c. 199, s. 5, p. 480.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.6 Pledge of delinquent special tax receipts to payment of notes; resolution; covenants and effect; remedies

App.A:4-31.6. Pledge of delinquent special tax receipts to payment of notes; resolution; covenants and effect; remedies
6. Any issuing municipality may by resolution pledge to the equal and ratable payment of any notes issued or to be issued under this act, and described in such resolution, all or any specified part of receipts from any special taxes delinquent at the time of the adoption of such resolution, subject to the condition that the municipality may thereafter by similar resolution provide that the pledge be extended for the equal and ratable benefit and security of other notes theretofore or thereafter issued under this act. Any such resolution may contain covenants as to the application to the reduction of the debt of the municipality of any such receipts in excess of the amounts necessary for the purposes of the pledge and any extension of such pledge or any other such pledge theretofore or thereafter made pursuant to this act. Such receipts shall be held by the municipality as a trust fund for the purpose of fulfilling the terms of any such resolution. Any such resolution shall, if and to the extent provided therein, constitute a contract between the municipality and the holders of any notes, bonds or other debt to the payment of which such receipts under the terms of such resolution are to be applied, which may be enforced by mandamus or other appropriate action, suit or proceeding at law or in equity instituted by any such holder on behalf of all the other holders and/or by the owner of property subject to taxation in such municipality.
(L.1935, c. 199, s. 6, p. 480.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.7 Construction of act as affecting contracts

App.A:4-31.7. Construction of act as affecting contracts
7. Nothing in this act shall be construed to affect any contracts heretofore made pursuant to the original act or to affect any such contract made by an issuing municipality except as expressly provided herein, or to prevent the issuance of bonds pursuant to the original act and the making of the contract constituted thereby by any issuing municipality.
(L.1935, c. 199, s. 7, p. 481.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.8 State not obligated

App.A:4-31.8. State not obligated
8. Nothing in this act shall be construed as creating or implying any duty on the part of the state to assure to any municipality issuing notes under this act, or to the holder of any such notes, that any percentage of the special taxes against which such notes were issued will in fact be collected or is legally payable, or that any deficiency in such special taxes should be made up or compensated for in any way by the state or in any other way except by inclusion in the budget or tax ordinance of such municipality.
(L.1935, c. 199, s. 8, p. 481.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.9 Partial invalidity of act not to affect remainder

App.A:4-31.9. Partial invalidity of act not to affect remainder
9. If any one or more sections, clauses, sentences or parts of this act shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining sections, clauses, sentences or parts thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
(L.1935, c. 199, s. 9, p. 481.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-31.11 Postponement of payment of moneys due school district from municipality; budget

App.A:4-31.11. Postponement of payment of moneys due school district from municipality; budget
Notwithstanding the provisions of the act to which this act is a supplement, it shall be lawful for the governing body of any municipality in this State which has refunded its debt in whole or in part under the provisions of the act to which this act is a supplement to postpone the payment of any sum or sums due to a school district from the municipality where said sum was due and payable December thirty-first, one thousand nine hundred and thirty-six, and to allow payment of any sum or sums due to be spread over a period of not more than ten years; provided, the board of education of such school district is willing to accept payment from the municipality in said yearly installments and has adopted, or shall adopt, a resolution consenting thereto. In the event that the board of education of the school district has adopted, or shall adopt, such a resolution and the terms of such resolution shall be accepted by resolution of the governing body, then the sum determined by the board of education in such resolution to be due shall be included in the budgets of the municipality for the years and in such amount as shall be set forth in said resolution, and the total of such amounts shall not be charged against "current account-cash" or considered as a cash liability of the municipality.
(L.1939, c. 37, p. 53, s. 1, eff. April 12, 1939.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-32 Refunding bonds; power to issue

App.A:4-32. Refunding bonds; power to issue
1. Any city, borough, town, township, village or other municipality (hereinafter referred to as "municipality" ) shall have power to issue its negotiable bonds (hereinafter referred to as "refunding bonds" ), pursuant to and within the limitations prescribed by this act, for the purpose of funding or refunding the principal of and/or accrued interest on any notes or bonds issued by such municipality and outstanding at the time the ordinance authorizing the issuance of such refunding bonds as hereinafter provided shall take effect, or any notes or bonds thereafter issued by such municipality for the purpose of renewing, funding or refunding such outstanding notes or bonds, but not including notes or bonds issued in anticipation of the collection of taxes levied for the fiscal year one thousand nine hundred and thirty-five, or subsequent fiscal years, or refunding bonds issued under this act or notes or bonds heretofore or hereafter issued under the act entitled "An act to authorize and regulate the issuance of bonds and other obligations and the incurring of indebtedness by county, city, borough, town, township, village or any other municipality, other than a school district" (Revision of 1935), approved the twentieth day of March, one thousand nine hundred thirty-five, or the act entitled "An act concerning the issuance of bonds by municipalities to pay, fund or refund certain bonds or other indebtedness," approved April fourth, one thousand nine hundred and thirty-four, or the acts amendatory of or supplemental to said acts. Any municipality shall have power to issue such refunding bonds in an amount not exceeding one per cent (1%) of the face amount of all bonds issued by it pursuant to this act, for the purpose of paying the cost of issuing said bonds, including legal expenses and a reasonable compensation or commission to financial agents employed to effect such funding or refunding.
(L.1934, c. 233, s. 1, p. 670. Amended by L.1935, c. 170, s. 1, p. 402.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-33 Duration of power

App.A:4-33. Duration of power
2. Since the purpose of this act is to provide for the extraordinary conditions due to the existing emergency, no bonds shall be issued pursuant to this act after the first day of January, one thousand nine hundred and thirty-seven, unless the ordinance authorizing the issuance of said bonds, required by section four of this act, shall have been finally passed prior to the first day of January, one thousand nine hundred and thirty-seven.
(L.1934, c. 233, s. 2, p. 671. Amended by L.1935, c. 170, s. 2, p. 403, L.1937, c. 35, s. 1, p. 72.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-35 Details of issue and sale; selling price; ordinance

App.A:4-35. Details of issue and sale; selling price; ordinance
4. Such bonds may be issued from time to time in such amounts as may be determined by the governing body of such municipality. Each issue of said bonds shall mature in annual installments or series, beginning not later than five years and ending not later than forty-five years after the date of the bonds of such issue. Such annual installments or series may be equal or unequal in amount. Said bonds shall bear interest at a rate which shall not exceed six per cent (6%) per annum, payable semiannually. Said bonds shall be issued in such form and with such provisions as to time, place and medium of payment as said governing body may determine, subject to the limitations and restrictions contained in this act. Said bonds either shall be sold upon sealed proposals, or at public auction, after seven days' notice of such sale published once in a newspaper published in such municipality, or if no newspaper is published therein, in a newspaper published in the county in which such municipality is located and circulating in such municipality, and also once in a financial newspaper published in New York City or in the city of Philadelphia, or, in the discretion of such governing body, may be sold and delivered without previous public offering in exchange for the bonds or notes to be funded or refunded by the issuance thereof, whether or not such bonds or notes be then due and payable and irrespective of any higher or lower rate of interest borne by such bonds or notes. Such bonds may be sold and delivered at such price or prices, computed in the manner or mode of procedure prescribed by Montgomery Rollins' "Tables of Bond Values" (twenty-first edition, published by The Financial Publishing Company, Boston, Massachusetts), as will yield to the purchasers income at a rate not exceeding six per cent (6%) per annum to the maturity dates of the several bonds so sold and delivered on the money paid to the municipality therefor. If no legally acceptable bid is received for the bonds advertised to be sold at such public sale, said bonds or any of them may be sold without further advertisement at private sale and without further public offering within ninety days after the advertised date of such public offering. The issuance of said bonds shall be authorized by ordinance, which need state only the principal amount of bonds to be authorized, the maximum rate of interest to be borne by the bonds, and the maturity dates of the bonds, and shall describe the outstanding notes or bonds to be funded or refunded in such manner as to identify them; and any other action required by this act to be taken by such governing body, including that of designating the officials to execute said bonds, preliminary to the issuance of such bonds, shall be taken by resolution adopted by the votes of not less than a majority of all the members of such governing body.
(L.1934, c. 233, s. 4, p. 672. Amended by L.1935, c. 170, s. 3, p. 403.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-36 Bond recitals conclusive evidence of validity; publishing notice of bonds to be funded; filing copy of notice

App.A:4-36. Bond recitals conclusive evidence of validity; publishing notice of bonds to be funded; filing copy of notice
5. Any bond issued pursuant to this act may contain a recital that it is issued pursuant to this act, which recital shall be conclusive evidence of its validity and of the regularity of its issuance. The governing body may cause to be published, one or more times, in a newspaper published in such municipality, or if no newspaper is published therein, in a newspaper published in the county in which such municipality is located and circulating in such municipality, a notice, signed by the clerk of said municipality, describing the outstanding bonds or notes to be funded, or refunded, in such manner as to identify them, and also stating that refunding bonds described by their date, amount, and maturities, have been authorized to be issued pursuant to this act for the purpose of funding or refunding said outstanding bonds or notes, and that the validity or proper authorization of such refunding bonds may not be questioned in any court except in an action or proceeding commenced prior to a date to be specified in such notice, which date shall be more than twenty days after the first publication of such notice. If such notice shall be so published and if the bonds described therein in shall not be issued until after the date specified in such notice, neither the validity nor the proper authorization of such refunding bonds shall be questioned in any court except in an action or proceeding commenced prior to the date specified in such notice. A certified copy of such notice shall be filed in the office of the state auditor.
(L.1934, c. 233, s. 5, p. 673.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-37 Security for payment; resolution requiring separate appropriations; taxes; trust fund

App.A:4-37. Security for payment; resolution requiring separate appropriations; taxes; trust fund
6. The full faith and credit of any municipality issuing bonds pursuant to this act shall be deemed to be pledged for the payment of the principal of and interest on such bonds. The governing body of any such municipality may, by resolution adopted prior to the issuance of said bonds, determine that the sums required for the payment of the principal of and interest on any bonds issued pursuant to this act shall be appropriated, levied by tax, and collected in the manner provided in this section. If such resolution is adopted, a separate and specific appropriation for the payment of such principal and interest shall be made in the budget for each fiscal year following the issuance of such bonds. The amount of such appropriation shall be in the same proportion to the amount required for the payment of such principal and interest then due or to become payable during such fiscal year as the amount of all taxes levied upon the taxable property in such municipality for the previous fiscal year bears to the amount of such taxes which were actually collected by or paid to the tax collector of such municipality during such previous fiscal year. Thereafter it shall be the duty of the tax collector of such municipality to set aside out of each payment of taxes levied for the year for which such budget was adopted, a portion of such payment, which shall be in the same proportion to the total payment as the amount of such appropriation bears to the total amount of taxes levied upon the taxable property in such municipality for such fiscal year and collectible by such tax collector. The sums so set aside shall be forthwith deposited in the trust fund described in section seven of this act. The amount of cash in said trust fund at the end of any fiscal year shall be applied to the reduction of the appropriations to be made for the principal and interest of such bonds in the following year. Any such resolution so adopted shall be deemed a contract between such municipality and the holders of said bonds; provided, that the legislature may on and after January first, one thousand nine hundred and forty-four, permit the rescission, alteration, abrogation or amendment of such resolution and any contract or contracts constituted thereby. Any such resolution may also provide that the portion of each payment of taxes required to be set aside as hereinbefore provided shall be paid only with lawful money of the United States of America; provided, however, that any such provision in any such resolution shall not affect the contract rights of the holders of any obligations of said municipality theretofore issued.
(L.1934, c. 233, s. 6, p. 673.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-38 Bonds may be refunded notwithstanding budget provisions or previous appropriation

App.A:4-38. Bonds may be refunded notwithstanding budget provisions or previous appropriation
7. Any bonds or notes authorized by this act to be funded or refunded may be funded or refunded, notwithstanding that provision for their payment shall have been made in any budget theretofore adopted, or that funds or revenues remaining uncollected have by law been appropriated to their payment. The funds to be realized from such appropriations or from the collection of such funds or revenues may, however, by resolution adopted by the governing body prior to the issuance of refunding bonds, be pledged to the payment of such refunding bonds, and such pledge shall thereafter be deemed a contract between such municipality and the holders of said bonds. Such funds or revenues so pledged shall when received be deposited forthwith in a trust fund which shall be established by the governing body of such municipality. Said trust fund shall be deposited in an incorporated bank or trust company and shall be used for no purpose except for the payment of the principal of or interest on refunding bonds issued pursuant to this act, and shall not be invested.
(L.1934, c. 233, s. 7, p. 675.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-39 Additional powers

App.A:4-39. Additional powers
8. The powers granted by this act are granted in addition to and not in substitution for the existing powers of municipalities, and are not subject to any limitation or restriction prescribed by any other act or acts.
(L.1934, c. 233, s. 8, p. 675.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-40 Constitutional severability

App.A:4-40. Constitutional severability
9. If any one or more sections, clauses, sentences, or parts of this act shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining sections, clauses, sentences or parts thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
(L.1934, c. 233, s. 9, p. 675.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-42 Annual assessment installments defined

App.A:4-42. Annual assessment installments defined
1. Whenever pursuant to the provisions of the act to which this is a supplement, and/or to any acts amendatory thereto, and/or to the provisions of any municipal charter, and/or to any other acts relative thereto, any municipality shall heretofore have opened, widened and/or improved any street, and/or incurred an expense in connection therewith, the assessments to pay for which may be paid in annual installments over a period of years, and which said assessments are not yet fully paid, the payment of all said unpaid annual installments may be deferred and extended for a period of two years from the time when said annual installments come due or may have become due; provided, however, that interest on said annual installments shall be paid as heretofore.
(L.1934, c. 169, s. 1, p. 412.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-47 Payment of taxes in scrip

App.A:4-47. Payment of taxes in scrip
1. Whenever any municipality and/or county is authorized by law to issue scrip, or other obligation of the municipality, the governing body of such municipality may pay in scrip of suitable denominations or other obligations of the municipality if payment cannot be made in cash, the state and county school taxes which remain unpaid to the county treasurer on February first, one thousand nine hundred and thirty-six; provided, that if the county is issuing scrip, ten per cent of the state school tax shall be paid in cash; and provided, further, if the county is not issuing scrip, each municipality shall pay in cash the total amount in excess of the amount apportioned by the county superintendent to the coextensive school district, unless any district or districts entitled to such excess shall accept the scrip of such municipality. The county treasurer shall receive such scrip or other obligation of the municipality in payment of state and county school taxes; provided, each payment is proportionately in cash.
(L.1933, c. 156, s. 1, p. 322. Amended by L.1934, c. 42, s. 1, p. 126, L.1935, c. 19, s. 1, p. 43, L.1936, c. 57, s. 1, p. 149.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-48 State apportionment paid in scrip to school districts; exception

App.A:4-48. State apportionment paid in scrip to school districts; exception
2. The county treasurer shall pay to the custodians of the several school districts upon the warrants of the county superintendent of schools the amounts of the state apportionment then due such districts in the scrip or other obligations of the municipality making payment, except that those school districts making payment in scrip which receive greater amounts than are due from the coextensive municipalities shall be paid such excess in county scrip if there be such issued, in lieu of and secured by the amount of municipal scrip of such excess payments.
(L.1933, c. 156, s. 2, p. 323. Amended by L.1934, c. 42, s. 2, p. 126.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-49 County relieved of ninety per cent of obligation

App.A:4-49. County relieved of ninety per cent of obligation
3. The county shall be relieved of that part of its obligation to the state for ninety per cent (90%) of the state school tax when the county treasurer shall have filed with the state treasurer receipt from the custodian of the school district, which receipt shall acknowledge the acceptance of county and/or municipal scrip or other obligations of the municipality as payment for amounts due such school district from the county treasurer on account of the distribution of the state school tax, if with such receipts there is paid to the state treasurer the proportionate cash payment due the state.
(L.1933, c. 156, s. 3, p. 323. Amended by L.1934, c. 42, s. 3, p. 127, L.1935, c. 19, s. 2, p. 44.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-50 County school boards paid in scrip

App.A:4-50. County school boards paid in scrip
4. The county treasurer may likewise pay in county scrip if there be such, the amount of county school taxes remaining unpaid to the treasurer of any county school board authorized to receive such payments.
(L.1933, c. 156, s. 4, p. 323. Amended by L.1934, c. 42, s. 4, p. 127.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-51 Obligation to issue or accept scrip

App.A:4-51. Obligation to issue or accept scrip
4 1/2 . No county or municipality shall be obligated to issue scrip by reason of the provisions of this act nor shall any school district be obliged to accept scrip, other than county scrip, of any municipality other than one of which such school district is a part.
(L.1933, c. 156, s. 4 1/2 , p. 323.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-52.1 Waiver of interest on State school taxes paid in scrip

App.A:4-52.1. Waiver of interest on State school taxes paid in scrip
In any case where municipalities and/or counties in this State have satisfied their State and/or county school taxes by issuing and delivering ninety per centum (90%) thereof in scrip under the provisions of an act entitled "An act relating to the financing of schools," approved May tenth, one thousand nine hundred and thirty-three, and the amendments thereof and supplements thereto, there shall not be charged by any State or county department, or officer thereof, interest on delinquencies except to the extent of interest on the ten per centum (10%) of the State school taxes to be retained by the State Treasurer, under the provisions of the State school law. The acceptance by the receiving school districts of the ninety per centum (90%) of said State school taxes in scrip in lieu of cash shall be considered a waiver of any interest which might be due from the municipality and/or the county on ninety per centum (90%) of said State school taxes so paid in scrip.
(L.1938, c. 12, p. 50, s. 1, eff. Feb. 25, 1938.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-53 Maturity of certain school bonds

App.A:4-53. Maturity of certain school bonds
1. Bonds to be issued by any school district where such bonds, or a portion thereof, are to be sold to the federal government, or any agency thereof, may mature in annual installments commencing not more than five years from date of issue, any other statute to the contrary notwithstanding. In all other respects the proceedings for the issuance of such bonds shall conform to the requirements of the act to which this act is supplementary and the acts amendatory thereof and supplemental thereto.
(L.1934, c. 251, s. 1, p. 710.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-55 School refunding bonds; form and details

App.A:4-55. School refunding bonds; form and details
1. The board of education of any school district which is governed by article VII of the act to which this act is a supplement shall have power, by resolution adopted by vote of two-thirds of the members of said board at any time on or before July first, one thousand nine hundred and thirty-eight, to issue bonds for the purpose of funding or refunding any notes or bonds due or to become due together with any interest due or accrued thereon. When provided in the resolution authorizing the issuance of such bonds, the cost of issuing such bonds, including printing, advertising, accounting, financial and legal expenses may be included in such bond issue. Such bonds shall bear interest at a rate not exceeding six per cent (6%) per annum and shall be payable in such annual or semiannual installments as may be necessary to relieve the tax burden in the district. Provision for the payment of such bonds shall be made, and, unless such bonds are exchanged for notes or bonds to be funded or refunded thereby pursuant to section two hereof, such bonds shall be sold and delivered, in accordance with the requirements of the act to which this act is a supplement, except that the first annual installment may be made payable three years from the date of issue of such funding or refunding bonds. Such bonds shall be substantially in form as prescribed by the act to which this act is a supplement. The powers granted by this act shall not be affected or restricted by any limitation of indebtedness imposed by any act heretofore or hereafter enacted and shall not be affected by the invalidity of or irregularity in any proceedings for the issuance of the notes or bonds to be funded or refunded under this act, but shall be exercised by the board of education only when necessary to relieve the tax burden in the district, which determination shall be made by the board of education in the resolution authorizing bonds under this act.
(L.1934, c. 185, s. 1, p. 452.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-56 Exchange of bonds; report

App.A:4-56. Exchange of bonds; report
2. All bonds issued under this act may, without previous public offering, be exchanged for the notes or bonds to be funded or refunded thereby, whether due or to become due, and the interest due or accrued thereon, if the exchange be authorized by resolution adopted by vote of two-thirds of the members of the board of education. The officer making such exchange shall report the amounts and numbers of the notes or bonds so exchanged and the report shall be entered on the minutes of the board of education.
(L.1934, c. 185, s. 2, p. 453.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-57 Certification by funding commission; validity of bonds

App.A:4-57. Certification by funding commission; validity of bonds
3. No resolution authorizing bonds under this act shall be passed until a commission, composed of the attorney general, the state commissioner of finance, the state tax commissioner, and the commissioner of education, which commission is hereby created and shall be known as "the funding commission for school purposes" , or a majority thereof, shall have certified on a copy of such resolution that the resolution authorizes a funding or refunding of indebtedness necessary to relieve the tax burden in the district within the provisions of this act. Such certification may be made by the secretary of said commission pursuant to its direction and on its behalf or by the indorsement of any three members of the commission. After the issuance of bonds under such resolution, such certification whether signed by the commissioners or the secretary of the commission shall be conclusive as to such necessity and compliance with this act in any suit, action, or proceeding relating to the validity of any bonds issued pursuant to such resolution. Each member of the commission may from time to time designate an assistant to exercise his duties under this act. The commission shall have power to designate or employ a secretary, and copies of all resolutions requiring the consideration of the commission shall be filed in the office of such secretary. The commissioners shall serve without salary.
(L.1934, c. 185, s. 3, p. 453.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-58 Approval of readjustment plan

App.A:4-58. Approval of readjustment plan
4. No school district may file any petition with any United States court under any law of the United States for the purpose of effecting a readjustment of its debt, without first securing the written approval of the funding commission for school purposes, and no plan of readjustment of such debt shall be approved or put into temporary effect or finally confirmed without the written approval of the funding commission for school purposes.
(L.1934, c. 185, s. 4, p. 454.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-59 Construction; constitutional severability

App.A:4-59. Construction; constitutional severability
5. The authority granted and the duties imposed by this act shall be construed to be independent and severable. If any one or more sections, subsections, sentences or parts of this act shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining provisions thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
(L.1934, c. 185, s. 5, p. 454.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-63 Refunding bonds; resolution on or before Dec. 31, 1947; interest; payment; taxes

App.A:4-63. Refunding bonds; resolution on or before Dec. 31, 1947; interest; payment; taxes
The board of education of any school district which is governed by chapter seven of Title 18 of the Revised Statutes of New Jersey shall have power to issue its negotiable bonds (hereinafter described as "refunding bonds" ) for the purpose of paying, funding or refunding either the principal of or interest on any bonds or notes heretofore or hereafter issued by such board of education and to pay the cost of issuing such refunding bonds including printing, advertising, accounting, financial and legal expenses. Such refunding bonds shall bear interest at a rate which shall not exceed six per centum (6%) per annum. The issuance of such bonds shall be authorized by resolution or resolutions adopted on or before December thirty-first, one thousand nine hundred and forty-seven, by the vote of two-thirds of the members of such board of education. The power and obligation of the board of education of any school district to pay any refunding bonds issued by it pursuant to this act shall be unlimited and the school district shall levy ad valorem taxes upon all the taxable property within the school district for the payment of such refunding bonds and interest thereon, without limitation of rate or amount and provision shall be made for the payment of such bonds and interest in accordance with the requirements of article seven of chapter seven of Title 18 of the Revised Statutes.
(L.1940, c. 29, p. 106, s. 1. Amended by L.1940, c. 249, p. 952, s. 1; L.1943, c. 19, p. 51, s. 1, L.1945, c. 27, p. 83, s. 1.)
2023 New Jersey Revised Statutes › Appendix A - Emergency and Temporary Acts › App.A:4-64 Issuance, recitals, date, maturity, etc., of bonds

App.A:4-64. Issuance, recitals, date, maturity, etc., of bonds
Such refunding bonds may be issued in one or more series, and shall recite that they are issued pursuant to this act, and shall bear such date or dates, mature at such time or times, not exceeding forty years from their date, bear interest at such rate or rates, payable at such time or times, be in such denomination, in such form either coupon or registered, carry such registration privileges, be executed in such manner, be payable at such place or places and be subject to such terms of redemption with or without premium, as may be determined by resolution or resolutions of the board of education.
(L.1940, c. 29, p. 107, s. 2.)