New Jersey § app:a-4

§ app:a-4.

Subject to the terms and provisions of this act, 1 any city, borough, town, township, village or any other municipality (hereinafter

referred to as “municipality”) in this state shall have power under this act from

time to time to incur indebtedness, to borrow money and to issue its negotiable bonds

for any or all of the following purposes: (a) To pay, fund or refund any or all tax anticipation bonds or notes, tax revenue

bonds or notes, tax title bonds or notes, emergency bonds or notes, or interest deficiency

notes, which recite that they are issued pursuant to an act of the legislature entitled

“An act concerning municipal and county finances,” approved March twenty-eighth, one

thousand nine hundred and seventeen, 2 as amended and supplemented, and a resolution or resolutions of the governing body

of the municipality, and any renewals or extensions thereof, whether due or to become

due, including any indebtedness evidenced thereby or interest due or accrued thereon; (b) To pay, fund or refund any or all amounts unpaid and owing by such municipality

or the collector of the taxing district for school, county, state and local district

taxes; (c) To pay, fund or refund any or all indebtedness of such municipality for the payment

of which an appropriation has been made in any budget or tax ordinance of the municipality,

including any interfund indebtedness where there is not sufficient cash in the debtor

fund to repay the creditor fund, any sinking fund and amortization requirements, contract

indebtedness and any unpaid bills or claims; (d) To pay the cost of issuance of such bonds, including printing, advertising, accounting,

financial and legal expenses. 1

N.J.S.A. App. A:4-19 et seq. 2

P.L.1917, p. 548, repealed.