New Jersey § app:a-4

§ app:a-4.

Notwithstanding any provision to the contrary in section four of this act, 1 there shall be included in each budget or tax ordinance of any municipality an appropriation

for the payment of any notes issued under this act outstanding at the time of the

submission of such budget in an amount not less than the amount, if any, by which

the sum of the principal amount of such notes and the amount of all moneys previously

received since the beginning of the year of issuance in payment of special taxes whether

levied before or after the year of issuance, exceeds eighty per cent (80%) of the

total amount of such special taxes which may have been levied and payable in any preceding

fiscal year since the beginning of the year of issuance. 1

App. A:4-31.4.