40:63-31.3 - Refund or credit to property owners - New Jersey Statutes

40:63-31.3.  Refund or credit to property owners    That portion of the principal of the amount of any proceeds received or to be received by the municipality from any lease or sale made under either section 1 or section 2 of this act, which is specified in the agreement of lease or sale to be attributable to sewer facilities for which properties benefited thereby have been or will be assessed, shall be refunded or credited,  pro rata according to the principal of the amount of any such assessments, to  those owners of properties assessed, or their legal representatives or assigns,  in such manner as may be determined by the governing body of the municipality.

     L.1964, c. 26, s. 3.