New Jersey § acts:saved-27 - (18)

§ acts:saved-27. (18)

18. The sinking fund commission shall, on or before [the] fifteenth day of December in

each year, certify to the comptroller of the treasury the amount necessary for the

interest and the sinking fund payments as hereinbefore provided, the same to be assessed,

levied and collected for and in the ensuing calendar year. The comptroller of the treasury shall, on or before the first day of March, following,

calculate the amount in dollars, or the millage on the dollar of valuation, as the

case may be, to be assessed, levied and collected as herein set forth in each county;

if in a fixed amount in dollars, such calculation shall be based upon the ratables

of the preceding year, as shown by the then corrected assessed valuation of such county;

if by millage on the dollar of valuation, it shall apply to the valuation basis of

the year in which the tax is assessed and levied, and certify said amount or the millage

so calculated to the county board of taxation and the county treasurer of each county. The said county board of taxation shall include the amount in dollars or the millage

on the dollar of valuation, as the case may be, so certified, in the current tax levy

of the several taxing districts of the county in proportion to the ratables as ascertained

for the current year.