40:63-130 - Temporary obligations to finance work; renewal - New Jersey Statutes

40:63-130.  Temporary obligations to finance work;  renewal
    For the purpose of defraying the costs and expenses of the construction of such improvement or works and their appurtenances and connections as authorized  by this article in respect of which an assessment for benefits may be made on  lands and real estate situated in any such contracting municipality, the  governing body or board having charge of the finances of any such contracting  municipality may, if necessary, borrow money and secure the payment of the same  by the notes and other temporary obligations of such municipality.  Such notes  and obligations may be renewed from time to time until the work of such  improvements be done, or the assessments for benefits confirmed.  When so  confirmed such body or board shall provide for the costs and expenses of the  improvements in the manner hereinafter in this article provided.