New Jersey § 40a:26a-16
Full text of New Jersey New Jersey Statutes § 40a:26a-16, with citation guidance and answers to common questions.
§ 40a:26a-16.
a. Principal and interest payments on bonds issued in accordance with subsection c.
of N.J.S.40A:26A-9 and operating and maintenance costs for sewerage facilities, shall not be included
in computing the gross or net indebtedness of the local unit issuing the bonds if
the cash receipts from fees, rents and other charges in a fiscal year are sufficient
to meet operating and maintenance expenses. In such cases, sewerage facilities shall be deemed a self-liquidating purpose and
interest and debt redemption charges, and maintenance and operating costs payable
or accruing in that fiscal year shall be treated in the manner prescribed in N.J.S.40A:2-45 through N.J.S.40A:2-47 . b. (1) Annual installment payments to a local unit made pursuant to N.J.S.40A:26A-15 shall not be included in computing the gross or net indebtedness of the other participating
government or governments, except that a self-liquidating purpose facility shall be
subject to the provisions of N.J.S.40A:2-48 ; nor (2) shall the principal and interest on bonds issued by a local unit to finance, pursuant
to an agreement made in accordance with N.J.S.40A:26A-15 , the share of the cost of the construction or acquisition, or of maintenance or operation
of another government, be included in any computation of gross or net indebtedness
of the local unit.
Frequently Asked Questions About New Jersey § 40a:26a-16
What does New Jersey Statutes § 40a:26a-16 cover?
Section 40a:26a-16 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 40a:26a-16?
A common citation format is "New Jersey Statutes § 40a:26a-16" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 40a:26a-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.