New Jersey § acts:saved-27 - (17)

§ acts:saved-27. (17)

17. Should the state treasurer by December thirty-first of any year deem it necessary,

because of insufficiency of funds to be collected from the sources of revenues as

provided in section fifteen hereof to meet the interest and principal payments for

the year after the ensuing year, then the treasurer shall certify to the comptroller

of the treasury the amount necessary to be raised by taxation for such purposes, the

same to be assessed, levied and collected for and in the ensuing calendar year. In such case, the comptroller of the treasury shall, on or before the first day

of March following, calculate the amount in dollars to be assessed, levied and collected

as herein set forth in each county. Such calculation shall be based upon the corrected assessed valuations of such county

for the year preceding the year in which such tax is to be assessed, but such tax

shall be assessed, levied and collected upon the assessed valuations of the year in

which the tax is assessed and levied. The comptroller of the treasury shall certify said amount to the county board of

taxation and the county treasurer of each county. The said county board of taxation shall include the proper amount in the current

taxing levy of the several taxing districts of the county in proportion to the ratables

as ascertained for the current year.