Powers and obligations of municipality; ad valorem taxes; levy
40A:4-55.21. Powers and obligations of municipality; ad valorem taxes; levy
The power and obligation of a municipality to pay any note or obligation issued pursuant to this act 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 or obligations and interest thereon, without limitation of rate or amount.
L.1982, c. 66, s. 4, eff. July 12, 1982.
This is the verbatim text of N.J.S.A. 40A:4-55.21, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.