New Jersey § 40a:26a-17
Full text of New Jersey New Jersey Statutes § 40a:26a-17, with citation guidance and answers to common questions.
§ 40a:26a-17.
The chief fiscal officer of another government having entered into a contract pursuant
to this act, shall cause to be paid to the local unit the amounts of money at the
times stipulated in the contract and certified by the local unit. The power and obligation to make payments in accordance with the terms of the contract
shall be unlimited, and the sums necessary therefor shall be included in the annual
budget of the other government, which shall be irrevocably and unconditionally obligated
to levy ad valorem taxes on all taxable property therein, without limits as to the
rate or amount, to the extent necessary to make payments in full as due. Any part of a payment that remains unpaid for 30 days following the date payment
is due, shall be assessed an interest charge at a rate of interest at least equal
to the monthly index for the immediately preceding month for 20 year tax exempt bond
yields as compiled by the Bond Buyer or any similar index agreed to by the parties.
Frequently Asked Questions About New Jersey § 40a:26a-17
What does New Jersey Statutes § 40a:26a-17 cover?
Section 40a:26a-17 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-17?
A common citation format is "New Jersey Statutes § 40a:26a-17" (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-17 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.