| 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: 27, HIGHWAYS
Chapter 1b:
Section: 27:1b-27: Counties and municipalities; temporary state aid anticipation notes
When the commissioner shall notify the governing body of a county or municipality of the amount of State funds allocated to a project, the governing body may borrow money on temporary loan to an amount not to exceed the amount of the State funds allocated to the project, in anticipation of the payment of the amount of State funds so allocated to the county or municipality, and may apply the proceeds of the loan to the payment of the cost of the project. The temporary loan shall be repaid upon payment to the county or municipality of the sum, in anticipation of payment of which the loan was made.
L.1984, c. 73, s. 27, eff. July 10, 1984.
This section added to the Rutgers Database: 2012-09-26 13:37:49.
Older versions of 27:1b-27 (if available):
Court decisions that cite this statute:
CLICK HERE.