New Jersey § 40a:12-6

§ 40a:12-6.

(a) Whenever, pursuant to law, a county or municipality is authorized to acquire or

improve any real property or capital improvement, or both, or any personal property,

the county or municipality may provide for the payment of the cost of such acquisition

or improvement, or both, in whole or in part, by the incurring of indebtedness and

issuance of bonds in accordance with the “Local Bond Law,” (chapter 2 of Title 40A

of the New Jersey Statutes) or by having provided an appropriation in the annual budget

for the purpose, pursuant to the provisions of the “Local Budget Law,” (chapter 4

of Title 40A of the New Jersey Statutes). (b) Whenever, pursuant to law, a county or municipality is authorized to maintain

or operate any real property, capital improvement, or personal property, or any facility,

the county or municipality may provide for the payment of the cost of such maintenance

or operation, or both, by budget appropriation in the manner provided by law, any

sums obtained from earnings of such property or facility, if any, or from any other

lawful revenue source, pursuant to the provisions of the “Local Budget Law” (chapter

4 of Title 40A of the New Jersey Statutes).