40A:4-61 - Assessment revenue fund - New Jersey Statutes

40A:4-61.  Assessment revenue fund
    All receipts derived from special assessments on property specially benefited by any local improvements shall be segregated by the municipality and  kept in a separate fund to be known as an  "assessment revenue fund." They  shall be applied only to the payment of that part of the cost of any such  improvements which has been specially assessed on property specially benefited  or of any bonds or notes issued to finance such part of the cost of any such  improvements until all such bonds or notes shall have been paid.

     L.1960, c. 169, s. 1, eff. Jan. 1, 1962.