New Jersey § 52:27bbb-6

§ 52:27bbb-6.

a. Upon the appointment of a chief operating officer pursuant to section 7 of P.L.2002, c. 43 ( C.52:27BBB-7 ), a qualified municipality shall be under rehabilitation and economic recovery. This period shall begin with the assumption of job responsibilities by the chief

operating officer pursuant to this section and terminate 15 years following the end of the term of the chief operating officer. The period corresponding with the term of the chief operating officer shall be referred

to hereinafter as the rehabilitation term. The period commencing with the expiration of the term of the chief operating officer

and terminating 15 years thereafter shall be referred to hereinafter as the economic recovery term. b. (1) During the economic recovery term, the mayor shall exercise those powers delegated

to the mayor pursuant to the form of government, the charter and the administrative

code of the municipality, and those powers delegated to the mayor under general law. In addition, during the economic recovery term, the mayor shall retain the power

to veto the minutes of any independent board or authority, including, but not limited

to, the housing authority, parking authority, redevelopment authority, planning board

and board of adjustment. No action taken at any meeting of any independent board or authority shall have

force or effect until 10 days, exclusive of Saturdays, Sundays and public holidays,

after the copy of the minutes shall have been delivered to the mayor. If, in that 10-day period, the mayor returns the copy of the minutes with a veto

of any action taken by the board or authority at the meeting, that action shall be

null and void and of no force and effect. Following the completion of the 10-day period, those actions not vetoed shall be

considered approved. (2) During the first 18 months of the economic recovery term, the mayor shall have

the power to veto or terminate any employment contract not subject to a collective

bargaining agreement, whether or not subject to Title 11A, Civil Service, of the New

Jersey Statutes. This shall not apply to employment contracts under extension pursuant to terms under

the expired contract. (3) The mayor shall cause to be issued an interim report and a final report on the progress of the municipality toward achieving municipal rehabilitation

and economic recovery, as set forth in section 8 of P.L.2002, c. 43 ( C.52:27BBB-8 ) . The interim report shall be issued no later than June 30, 2021, and the final report

shall be issued at the end of the economic recovery term. (4) The mayor shall authorize the municipal planning board, from time to time, to

prepare a program of municipal capital improvement projects projected over a term

of at least six years, and amendments thereto. The program may include current and future major projects being, or to be, undertaken

with federal, State, county, or other public funds, or under federal, State, or county

supervision. The first year of the program shall, upon adoption by the governing body, constitute

the capital budget of the municipality as required by N.J.S.40A:4-43 et seq. The program shall classify projects in regard to the urgency and need for realization,

and shall recommend a time sequence for their implementation. The program may also contain the estimated cost of each project and indicate probable

operating and maintenance costs and probable revenues, if any, as well as existing

sources of funds, or the need for additional sources of funds, for the implementation

and operation of each project. The program shall, as far as possible, be based on existing information in the possession

of the departments and agencies of the municipality and shall take into account public

facility needs indicated by the prospective development shown in the master plan of

the municipality or as permitted by other municipal land use controls. (5) While the municipality is under rehabilitation and economic recovery, the mayor

shall retain the power to make those appointments to municipal authorities, boards

or commissions, as the case may be, which is otherwise allocated to the mayor pursuant

to law. The mayor may retain staff for the purpose of advising the mayor and aiding in the

performance of constituent services during the rehabilitation term. (6) The Director of the Division of Local Government Services in the Department of

Community Affairs shall annually conduct a compliance audit of the activities of a

qualified municipality during the economic recovery term to ensure compliance with P.L.2002, c. 43 ( C.52:27BBB-1 et al.) and other relevant State laws and shall report the findings to the Local

Finance Board and the mayor. (7) The financial incentives set forth in sections 54 through 56 of P.L.2002, c. 43 ( C.52:27BBB-53 through 55 ) shall remain in effect until the municipality is no longer eligible for financial

assistance pursuant to the “Special Municipal Aid Act,” P.L.1987, c. 75 ( C.52:27D-118.24 et seq. ). c. Upon the assumption of job responsibilities by the chief operating officer, the

financial review board created pursuant to section 5 of P.L.1999, c. 156 ( C.52:27D-118.30a ) to oversee the finances of the municipality shall cease to function and the municipality

shall cease to be under supervision pursuant to Article 4 of P.L.1947, c. 151 ( C.52:27BB-54 et seq. ). All outstanding debts or obligations incurred by a qualified municipality or the New

Jersey Housing and Mortgage Finance Agency established pursuant to section 4 of the

“New Jersey Housing and Mortgage Finance Agency Law of 1983,” P.L.1983, c. 530 ( C.55:14K-4 ) and secured by a right of first refusal on municipally-owned property as of 10 days

following a determination by the commissioner that the municipality fulfills the definition

of a qualified municipality pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ), with any subsidiary of that agency with jurisdiction in a qualified municipality,

other than those debts or obligations represented by bonds or other negotiable instruments,

are forgiven. Notwithstanding the termination of the financial review board and supervision, all

memorandums of understanding entered into by the municipality as a condition of receiving

assistance under P.L.1987, c. 75 ( C.52:27D-118.24 et seq. ) that require the municipality to implement any government, administrative, operational

efficiency or oversight measures necessary for the fiscal recovery of the municipality

as recommended by the director and approved by the Local Finance Board shall continue

to have full force and effect. During the rehabilitation term, the chief operating officer shall be responsible for

entering into any memorandum of understanding on behalf of the qualified municipality

that is required as a condition of receiving assistance under P.L.1987, c. 75 ( C.52:27D-118.24 et seq. ), or any other law; provided, however, that those memoranda of understanding shall

be consistent with the provisions of P.L.2002, c. 43 ( C.52:27BBB-1 et al.) and P.L.2007, c. 176 ( C.52:27BBB-2.2 et al.), and the powers of the chief operating officer granted pursuant thereto. Any such memoranda of understanding shall be executed between the chief operating

officer and the Director of the Division of Local Government Services in the Department

of Community Affairs. Whenever the powers and duties of the chief operating officer have devolved upon

the director pursuant to subsection b. of section 7 of P.L.2002, c. 43 ( C.52:27BBB-7 ), the memorandum of understanding shall be executed between the director, on behalf

of the qualified municipality, and the State Treasurer, on behalf of the State.