40A:14-80 - Borrowing money in anticipation of revenue - New Jersey Statutes

40A:14-80.  Borrowing money in anticipation of revenue    The commissioners of any fire district, by resolution, may borrow after March 1 and before December 31 following, a sum not to exceed the amount appropriated at the preceding annual election held in the district, for current  expenses and necessary repairs to fire apparatus and fire houses within the  district, less any sums received from the collector of taxes or municipal  treasurer on account of such appropriation.  They may execute evidences of such  indebtedness and pay the amount so borrowed, together with interest thereon, at  a rate not exceeding 5% per annum.

     L.1971, c. 197, s. 1, eff. July 1, 1971.