54:4-76 - State, county and school taxes; payment by municipality; municipality may borrow - New Jersey Statutes

54:4-76.  State, county and school taxes;  payment by municipality; municipality may borrow
    The governing body of the municipality or the county shall cause the county,  local school and State taxes to be paid as and when due for payment. If there  shall not be sufficient funds in the treasury available for such payments, the  governing body shall immediately borrow sufficient money and pay such taxes.   The board of chosen freeholders of each county may by resolution fix the rate  of discount to be allowed for the payment to the county treasurer of county  taxes previous to the date on which they will become due for payment.  The rate  so fixed shall not exceed six per centum per annum, and shall be allowed only  in case of payment on or before the thirtieth day previous to the date on which  said taxes will become due for payment to the county treasurer.  On any part of  the taxes payable to the county treasurer and on any part of the taxes payable  to the State by the county treasurer, which shall remain unpaid after the time  within which they are required to be paid by this chapter, the taxing district  or county in arrears shall pay to the county or State, as the case may be,  interest at the rate of six per centum per annum upon the delayed payment.

     Amended by L.1940, c. 21, s. 1.