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NEW JERSEY STATUTES AND CODES
40A:4-75 - Liability on notes
40A:4-75. Liability on notes
The power and obligation of a local unit to pay any note or obligation issued pursuant to this chapter shall be unlimited and the local unit shall have power and be obligated to levy ad valorem taxes upon all the taxable property within the local unit for the payment of such notes or obligations and interest thereon, without limitation of rate or amount.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
The power and obligation of a local unit to pay any note or obligation issued pursuant to this chapter shall be unlimited and the local unit shall have power and be obligated to levy ad valorem taxes upon all the taxable property within the local unit for the payment of such notes or obligations and interest thereon, without limitation of rate or amount.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
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