40:56-3 - Improvement at request and expense of petitioners; improvement by owners; cash deposit - New Jersey Statutes

40:56-3.  Improvement at request and expense of petitioners; improvement by  owners;  cash deposit
    The governing body of a municipality may undertake any improvement mentioned  in this chapter at the request of a number of petitioners who shall agree to  pay the cost of the improvement and all expenses incidental thereto, and any  other charge imposed by the governing body.  The petitioners shall file with  the governing body a statement showing the improvement desired, the real estate  owned by each of them, and the proportion of cost each is willing to pay.  The  statement shall be verified by each of the petitioners and, before any such  work or improvement is commenced, the petitioners shall enter into bond with  sufficient surety to the municipality in double the amount of the cost of the  improvement as estimated by the engineer of the municipality conditioned for  the prompt payment of the cost of the improvement and all expenses incidental  thereto and charges imposed.  The governing body may require further security  for such payment as it may deem advisable, and when so secured may proceed to make the improvement.  Upon the completion thereof the governing body shall determine the cost and expense thereof and cause the same to be collected from  the petitioners.

    Whenever an owner of land in this State is desirous of improving same by the  installation of utilities, sidewalks, curbs, street paving and any other improvement and the municipality wherein the land is located desires assurance of completion of such improvement, such municipality is hereby authorized to accept a cash deposit from said owner, conditioned upon the completion of said improvement or improvements to the satisfaction of, and within the time set by the governing body of such municipality.  Upon such completion, the municipality shall return said cash deposit to the owner of said land.  Upon failure to complete to the satisfaction of the municipality, the municipality may complete said improvement or improvements, using the monies so deposited, or so much thereof as is necessary for such purpose, returning the balance of said deposit, if any, to the owner of such land so improved.  Such cash deposit  shall be used for no other purpose.  The municipality is further authorized to  enter into such contracts, stipulations or agreements with said owner as are  necessary and proper to carry out the purpose of this act.

    Nothing in this act contained shall prevent a municipality from accepting bonds or other surety under like circumstances, and nothing herein shall be construed to, in any way, limit the powers of a municipality as they now exist,  it being intended that the authority herein granted is supplementary and in  addition to rights and powers presently possessed by municipalities.

     Amended by L.1941, c. 242, p. 661, s. 1, eff. June 28, 1941.