New Jersey § 40a:4-66
Full text of New Jersey New Jersey Statutes § 40a:4-66, with citation guidance and answers to common questions.
§ 40a:4-66.
The amount of tax anticipation notes of any fiscal year outstanding at any 1 time
shall not exceed an amount certified as the gross borrowing power, and no such notes
shall be authorized in excess of an amount certified as the net borrowing power, each
computed and certified as follows: a. The gross borrowing power in respect to tax anticipation notes of such fiscal year,
being 30% of the tax levy of the next preceding fiscal year, for all purposes in the
case of a municipality and for county purposes in the case of a county, plus 30% of
the amount of miscellaneous revenues realized in cash during the next preceding fiscal
year, is $․․․․․․․․․․․. b. The amount of notes outstanding in anticipation of the collection of taxes of such
fiscal year, except such notes as will be renewed by or paid from the proceeds of
the notes to be issued, is $․․․․․․․․․․․. c. The net borrowing power, being the excess of the first over the second of the 2
above amounts, is $․․․․․․․․․․․. Such certificate shall be made by the financial officer who is designated to sign
such notes, filed in the office of the clerk, and quoted in full in the resolution
authorizing such notes.
Frequently Asked Questions About New Jersey § 40a:4-66
What does New Jersey Statutes § 40a:4-66 cover?
Section 40a:4-66 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:4-66?
A common citation format is "New Jersey Statutes § 40a:4-66" (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:4-66 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.