New Jersey § app:a-4

§ app:a-4.

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, 1 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. 1

App. A:4-47 et seq.