New Jersey § 52:27bbb-5

§ 52:27bbb-5.

Upon receipt of notification by the commissioner pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ), the Chief Justice may designate a Superior Court judge who sits within the vicinage

of the county in which the qualified municipality is situated or a retired judge who,

during his or her tenure as a judge, served within the vicinage of the county in which

the qualified municipality is situated as the special arbitrator as prescribed pursuant

to P.L.2002, c. 43 ( C.52:27BBB-1 et al.) to serve during the rehabilitation term only. The designation shall expire at the commencement of the economic recovery term . The special arbitrator shall, on an expedited basis, oversee the resolution of any

impasse brought before the special arbitrator by the chief operating officer pursuant

to sections 9, 11, 13, 16, 22, and 27 of P.L.2002, c. 43 ( C.52:27BBB-9 , C.52:27BBB-11 , C.52:27BBB-13 , C.52:27BBB-16 , C.52:27BBB-22 , and C.52:27BBB-27 ) or any other impasse resulting from any action or failure to act on the part of

the mayor, the governing body or any other officer or appointee of the municipality. The special arbitrator may adopt those procedures necessary to govern the resolution

of an impasse and shall use the following criteria in dispute resolution, as appropriate

to the particular circumstances: a. The action or failure to act would be adverse to the rehabilitation or economic

recovery of the municipality; b. The action in question or failure to act would represent an unsound decision in

violation of the fiduciary responsibility of the municipal officials; c. The action or failure to act would be inconsistent with internal financial controls

or would violate prudent standards or practices of municipal administration or would

violate or compromise State laws, rules or regulations under which the municipality

operates; and d. the action or inaction would delay the implementation of P.L.2002, c. 43 ( C.52:27BBB-1 et al.) or the achievement of the goal of fostering the redevelopment and rehabilitation

of qualified municipalities and ensuring the effective delivery of municipal services

and professionalization of municipal administration.