New Jersey § 40a:5a-12
Full text of New Jersey New Jersey Statutes § 40a:5a-12, with citation guidance and answers to common questions.
§ 40a:5a-12.
The Local Finance Board shall have the power, in the case of a service contract between
an authority and a local unit or units, to enforce, by appropriate order, the terms
and provisions thereof with respect to the funding of a deficit, whether in existence
or anticipated. If the Local Finance Board has reason to believe that an authority is faced with
financial difficulty, it shall have the power to order an increase in rents, rates,
fees or other charges of the authority, and this order shall be valid and enforceable,
notwithstanding any provisions to the contrary in R.S. 48:2-1 et seq. The Local Finance Board, before issuing this order, shall first hold a hearing consistent
with section 18 of this act. 1 The Local Finance Board also shall have authority to provide that a requirement
that a local unit or units pay a deficit under a service contract be funded through
the issuance of notes as provided in section 14 of this act ( C. 40A:5A-14 ). Any order so issued shall be deemed conclusive and final, and upon receipt of this
order all persons shall be estopped from contesting the order or the provisions thereof. Any authority or local unit or units affected by the order shall promptly take the
action necessary to comply with this order. 1
N.J.S.A. § 40A:5A-18.
Frequently Asked Questions About New Jersey § 40a:5a-12
What does New Jersey Statutes § 40a:5a-12 cover?
Section 40a:5a-12 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:5a-12?
A common citation format is "New Jersey Statutes § 40a:5a-12" (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:5a-12 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.