| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 52, STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Chapter 27bbbb: Municipal Stabilization and Recovery Act
Section: 52:27bbbb-24: State to have first priority lien.
7. The State of New Jersey shall have a first priority lien on payments made under sections 3 and 4 of P.L.2016, c.5 (C.52:27BBBB-20 and C.52:27BBBB-21) to secure repayment of any amounts outstanding, including any accrued interest, at the time of the payment, including, without limitation, on any financial obligations of Atlantic City to the State of New Jersey, including any office, department, division, bureau, board, commission, or agency of the State, on any loans made to Atlantic City by the State of New Jersey, including any office, department, division, bureau, board, commission, or agency of the State, including without limitation loans made pursuant to the "Supplemental Municipal Property Tax Relief Act," P.L.1991, c.63 (C.52:27D-118.32 et seq.), or for any aid provided by the State of New Jersey, including any office, department, division, bureau, board, commission, or agency of the State, to Atlantic City requiring repayment. Atlantic City shall utilize amounts received under sections 3 and 4 of P.L.2016, c.5 (C.52:27BBBB-20 and C.52:27BBBB-21)to first repay the State of New Jersey for any such financial obligation, outstanding loan, or aid amounts. The first priority lien held by the State shall be superior and paramount to any and all prior or subsequent liens or levies by any creditors.
L.2016, c.5, s.7.
This section added to the Rutgers Database: 2016-06-06 12:09:06.
Older versions of 52:27bbbb-24 (if available):
Court decisions that cite this statute:
CLICK HERE.