New Jersey § 40a:12a-58

§ 40a:12a-58.

a. Payments required to be made in accordance with an agreement for payments in lieu

of taxes entered into under section 8 of this amendatory and supplementary act, P.L.1996, c. 73 ( C.40A:12A-56 ) shall be a continuous lien on the land against which the ordinance is recorded on

and after the date of recordation of both the ordinance and the agreement, whether

simultaneously or not, all subsequent payments in lieu of taxes thereunder, interest,

penalties and costs of collection which thereafter fall due or accrue shall be added

and relate back to and be a part of the initial lien. Upon recordation of the ordinance and agreement, payments in lieu of taxes shall

constitute a municipal lien within the meaning, and for all purposes, of law. b. If revenue bonds or other obligations are issued by the authority in order to finance

or refinance the construction, reconstruction, repair, alteration, improvement, and

development of any infrastructure, or parking or transportation facilities, or work

that reduces, abates or prevents environmental pollution, or other improvements that

provide a public benefit within or to a landfill reclamation improvement district

in accordance with section 9 of P.L.1996, c. 73 ( C.40A:12A-57 ), the municipality or the redeveloper may record, either simultaneously or at different

times, any ordinance enacted by the municipality relating to the payment in lieu of

taxes agreement or special assessments and, either simultaneously with the ordinance

or at different times, a copy of the agreement or agreements. The ordinance, when recorded, shall contain a legend at the top of the front page

substantially as follows: “THIS ORDINANCE SECURES BONDS OR OTHER OBLIGATIONS ISSUED IN ACCORDANCE WITH THE PROVISIONS

OF THE ‘LARGE SITE LANDFILL RECLAMATION AND IMPROVEMENT LAW’ AND THE LIEN HEREOF IN

FAVOR OF THE OWNERS OF SUCH BONDS OR OTHER OBLIGATIONS IS A MUNICIPAL LIEN SUPERIOR

TO ALL OTHER NON-MUNICIPAL LIENS HEREAFTER RECORDED.” c. Notwithstanding any law to the contrary, upon recordation of both the ordinance

and any accompanying agreement and upon the issuance of bonds or other obligations,

the lien thereof shall be perfected for all purposes in accordance with law and the

lien shall thereafter be superior to all non-municipal liens thereafter recorded or

otherwise arising, without any additional notice, recording, filing, continuation

filing or action, until the payment in full of the bonds or other obligations. The lien thereby established shall apply not only to the bonds and other obligations

initially issued, but also to any refinancing or refunding thereof, as well as to

any additional bonds and other obligations thereafter issued on a parity therewith

in accordance with the provisions of the original documents securing the initial bonds

and other obligations; provided, however, that in the event any ordinance or agreement

is amended or supplemented in a way which increases the amount of payment in lieu

of taxes or special assessments, the lien as to that increase shall be perfected and

apply upon the recordation of the amended or supplemented ordinance and agreement

(including the above-recited legend). Except as set forth in this section, no amendment or supplement to the ordinance

or agreement thereafter recorded shall affect the perfection or priority of the lien

established upon original recordation thereof. d. Upon the final payment in full of any bonds or other obligations secured as provided

in this section and section 9 of this amendatory and supplementary act, P.L.1996, c. 73 ( C.40A:12A-57 ), the lien established hereby shall terminate, and the municipality shall record

a notice to that effect.