40:62-103 - Expenses of operation and maintenance; first year's expenses; notes issued - New Jersey Statutes

40:62-103.  Expenses of operation and maintenance;  first year's expenses; notes issued
    To meet the expense of operation and maintenance of such water systems, tax  anticipation and tax revenue notes or bonds may be issued by the governing body  of the municipality in the manner provided by law, but such notes or bonds  shall be issued and charged only against taxes for the district supplied with  water.  To meet the expense of operation and maintenance of any water system  for the calendar year in which the system is installed, tax anticipation notes  or bonds may be issued by the governing body of the municipality, against taxes  to be levied and assessed for the following year against property in the  district, which notes or bonds shall mature not later than December  thirty-first of such following year, and may be extended or refunded as  provided by law in the case of other tax anticipation notes or bonds.  All such  tax anticipation or tax revenue notes shall state, in addition to any statement  required by law, that they are issued against taxes for the certain water  district.