New Jersey § 52:27-23
Full text of New Jersey New Jersey Statutes § 52:27-23, with citation guidance and answers to common questions.
§ 52:27-23.
Whenever a municipality in which the commission is functioning has been or shall be
in default for twelve months in the payment of interest on any of its bonds or notes
or other written evidence of indebtedness (except where the same is under litigation
as to its validity, or where the validity thereof has been denied by formal notice
given by the municipality, and no suit, action or proceeding to enforce the same has
been commenced by the holder); or whenever any such municipality has been or shall
be in default for six months in the payment of any part of its regular pay roll, or
in the payment of any sums due from the annual tax levy to the state, county or school
district, no subsequent budget or tax ordinance or appropriation for local school
purposes shall include any amounts in excess of such limits as may be fixed by the
commission, exclusive of appropriations for the purpose of raising the principal and
interest on the public debt, and exclusive of appropriations to create a reserve fund
under the provisions of section 52:27-25 of this title.
Frequently Asked Questions About New Jersey § 52:27-23
What does New Jersey Statutes § 52:27-23 cover?
Section 52:27-23 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 § 52:27-23?
A common citation format is "New Jersey Statutes § 52:27-23" (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 § 52:27-23 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.