40:43-66.70 - Debt obligations and bond issues - New Jersey Statutes

40:43-66.70.  Debt obligations and bond issues
    During the period between the date of election of new officers for the consolidated municipality, and the date of consolidation, no new debt obligations, excepting emergency notes issued pursuant to N.J.S. 40A:4-51, shall be authorized and issued by any participating municipality or constituent  school district.  Any bonds of the participating municipalities, or any  constituent school districts to be combined into a new school district, which  have been authorized prior to the date of such election, or in anticipation of  the issuance of which temporary notes have been issued prior to the date of  such election, may be issued and delivered or permanent bonds issued, as the  case may be.

     L.1977, c. 435, s. 36, eff. March 1, 1978.