New Jersey § 52:27-22

§ 52:27-22.

In order to conserve the financial resources of the municipality, its governing body,

without the assent in writing of the commission, shall pass no ordinances or resolutions

authorizing the issuance of notes or bonds of any kind or character or creating any

obligation or indebtedness of the municipality, except tax anticipation or tax revenue

notes or bonds for the current year. Nor shall such governing body, without like consent, include in any annual budget

or tax ordinance amounts for local expenditures in excess of the like amounts for

the preceding annual budget, exclusive of appropriations for the purpose of raising

the principal and interest on the public debt. After an appropriation has been approved by the commission, the actual expenditure

thereunder shall be made by the municipal authorities, but no claims whether under

appropriations approved by the commission, or included in the annual budget or tax

ordinance or otherwise, shall be passed for payment by the officers of such municipality

until the auditor shall have certified that the same have been examined by him and

found to be within appropriations theretofore duly made by the municipality, and that

there is or will be available in an appropriate account, sufficient ready funds for

such payment.