Title 52, Title 52: STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

52:27-13. Commission may carry out directions not complied with by municipality Whenever any direction of the commission authorized under this chapter has not been fully performed or carried out by the officials of the municipality affected, the commission may perform directly, o…

52:27-13.1. Powers and duties of auditor Whenever, pursuant to this chapter, the commission shall function in any municipality, the auditor appointed by the commission in and for such municipality shall, upon the adoption by the commission of a resolution providing therefor, have…

52:27-13.2. Certifying failure of municipal officer or employee to perform duties; removal or suspension; appointment of another Whenever, pursuant to this chapter, the commission shall function in a municipality, it shall have, in addition to the powers granted in sections 52:27…

52:27-13.3. Special collectors; appointment Whenever, pursuant to this chapter, the commission shall function in a municipality, it shall have, in addition to the powers granted in sections 52:27-13.1 and 52:27-13.2 of this title, the power by resolution to recommend to the gover…

52:27-13.4. Application of proceeds of taxes The commission shall have power from time to time by resolution to direct that for such period as may be stated in such resolution the proceeds of any taxes collected, received, or realized in any manner during such period shall be app…

52:27-13.5. Manner of certifying resolution; binding effect Any resolution adopted by the commission pursuant to sections 52:27-13.1 to 52:27-13.4 of this title may be certified to the municipality by the commission in the manner provided in section 52:27-64 of this title, and wh…

52:27-14. Funding or refunding indebtedness; resolution by commission The commission may from time to time prepare and certify to the governing body of any municipality in which the commission is functioning, resolutions providing for the funding or refunding of notes or bonds, o…

52:27-15. Public hearing on resolution Any proposed resolution providing for the issuance of notes or bonds, if such notes or bonds are payable more than one year from the date of issue, shall be so certified only after a public hearing by the commission, but no resolution or ame…

52:27-16. Adoption of resolution by municipality Such resolution shall, on direction of the commission, be adopted by the proper officials of such municipality in the form certified by the commission.

52:27-17. Other laws not applicable; debt statements as including obligations issued after December 31, 1946 Such resolutions and any notes or bonds issued thereunder shall not be subject to the limitations or other provisions of any other law. Notwithstanding the provisions of a…

52:27-18. Publication of resolution; when effective; validity Excepting resolutions determining or altering the form of notes or bonds or providing for their sale, execution or delivery, and resolutions amendatory thereof or supplemental thereto, such resolutions shall be publish…

52:27-19. Terms and form of notes or bonds; sale or exchange Subject only to the limitations of this chapter, such resolutions supplemental thereto shall determine the terms and the form of notes or bonds to be issued thereunder, and provide for their sale or exchange and their e…

52:27-2. Action where municipality defaults; judgment; powers and duties of commission Whenever it shall be made to appear to the Superior Court in an action brought by or on behalf of the holder of any notes or bonds of any municipality of this State against the municipality, th…

52:27-20. Public or private sale of notes or bonds; prices All such notes or bonds shall be sold in such manner as may be determined by resolution approved in writing by the commission, at public or private sale before or after public offering, or in exchange before or after publ…

52:27-21. Presumption of validity of notes and bonds Unless a suit, action or proceeding questioning the validity of notes or bonds, purporting to be issued by virtue of any such resolution, be commenced prior to the expiration of the thirty-day period mentioned in section 52:27-…

52:27-22. Consent of commission to municipality issuing notes or bonds; limitations on municipal expenditures; claims certified In order to conserve the financial resources of the municipality, its governing body, without the assent in writing of the commission, shall pass no ord…

52:27-22.1. Scrip or tax anticipation notes or bonds; approval No municipality of this State which is under the jurisdiction of the municipal finance commission shall hereafter issue any scrip or tax anticipation notes or bonds in payment of payrolls, claims or other obligations …

52:27-22.2. Penalty for violation of act Any official of any municipality who shall violate the provisions of this act in any municipality under the jurisdiction of the municipal finance commission shall be guilty of a misdemeanor and punished accordingly. L.1938, c. 169, p. 380,…

52:27-23. Limitation on school budget when municipality in default Whenever a municipality in which the commission is functioning has been or shall be in default for twelve months in the payment of interest on any of its bonds or notes or other written evidence of indebtedness (e…

52:27-23.1. Authorized provisions in resolutions authorizing issuance of notes or bonds enumerated; enforcement To the end that the principal of and interest on the notes or bonds issued hereunder may be further secured and thereby a more favorable sale or exchange effected, any …

52:27-23.2. Reserve or sinking funds; payment to sinking fund commission Any resolution authorizing the issuance of notes or bonds hereunder may provide that any sums required pursuant to such resolution to be set aside by the municipality for reserve or sinking funds shall be pa…

52:27-23.3. Cancellation of notes or bonds; payment of other municipal indebtedness Any resolution authorizing the issuance of notes or bonds hereunder may provide that the notes, bonds or other obligations of the municipality then held by the sinking fund commission thereof shal…

52:27-24. Terms, provisions, conditions and limitations in notes or bonds; negotiability All notes or bonds issued under this chapter may be subject to such terms of redemption, with or without premium, and contain such provisions, conditions and limitations with respect to the a…

52:27-25. Municipal tax to pay notes and bonds; reserve fund; withdrawals Any municipality in which the commission is functioning may levy taxes ad valorem upon all taxable property therein for the purpose of paying the principal of or interest on any notes, bonds or other obliga…

52:27-26. Compromise or adjustment of delinquent taxes and assessments The governing body of any municipality in which the commission is functioning may compromise and adjust the whole or any part of any special assessments or taxes delinquent to the municipality, but nothing in …

52:27-27. Assessment, reassessment, etc., of taxable ratables; cost; employment of experts The commission may require the municipality to cause to be made an assessment, reassessment, valuation, revaluation, appraisal or reappraisal, or any one or all of them, of the taxable rata…

52:27-28. Appeals from taxation Notice of all appeals from taxation affecting any municipality in which the commission is functioning shall be given by the county board of taxation to the auditor employed by the commission, and the commission shall be entitled to be represented a…

52:27-29. Installment payments of assessments for local improvements Whenever, pursuant to this chapter, the commission shall function in any municipality, such municipality may with the approval in writing of such commission extend the period theretofore granted for the payment …

52:27-29.1. Certificate of tax sale or tax title; real estate; sale, exchange, lease or other disposition The governing body of any municipality in which the commission is or may be functioning may, upon the express consent in writing of the commission, sell, exchange or otherwis…

52:27-29.2. Acceptance of municipal or school district bonds in payment of tax or assessment title liens authorized; refunding bonds; tax payment certificates Any municipality in which the commission is functioning may, with the approval of the commission, accept its own bonds an…

52:27-3. Resolution by municipality declaring inability to meet obligations; action in Superior Court; commission to function Any municipality may file with the Clerk of the Superior Court a certified copy of a resolution adopted by the governing body of the municipality, recitin…

52:27-30. Expenses of commission to be paid by municipality The commission shall from time to time certify to the proper officials of the municipality the amount of the commission's expenses, which expenses shall be a legal charge upon the municipality and may be paid by the issu…

52:27-31. Expenses of issuing notes or bonds and of foreclosure or perfecting title; including in debt to be funded; appropriation The estimated expense of issuing and selling any notes or bonds under this chapter including estimated cost of printing, advertising, attorneys' fees…

52:27-32. Article inapplicable to bonds issued after June 1, 1936 This article shall not apply to bonds issued after June first, one thousand nine hundred and thirty-six, by any municipality pursuant to this chapter, nor to actions or proceedings for the enforcement of such bonds…

52:27-32.1. Enforcement of judgments, etc., against municipality stayed; necessity of court order Whenever the commission shall function in any municipality and so long as it shall continue so to do, no judgment, levy or execution against the municipality or the property thereof …

52:27-33. Proceedings against municipality for assessment or collection of taxes prohibited; exceptions; remedies of holders of unpaid claims against municipality Whenever the commission shall function in any municipality and so long as it shall continue so to do, no action or pr…

52:27-33.1. Taxes collected by municipality paid to designated banks Whenever the commission shall function in any municipality and so long as it shall continue so to do, it may prepare and certify to the governing body of the municipality resolutions providing in substance that …

52:27-33.2. Action in Superior Court to determine application and distribution to creditors of property or funds of municipality Whenever the commission shall function in any municipality and so long as it shall continue to do so, no action or proceeding shall be brought or prose…

52:27-33.3. Court may vacate, modify or restrict statutory stay Upon the application of any creditor made upon notice to the municipality and the commission, the Superior Court may vacate, modify or restrict any statutory stay contained in this article. Amended by L.1953, c. 49, …

52:27-34. Action by creditors; plan of adjustment or composition; parties The Superior Court may take jurisdiction of an action brought by any creditors of a municipality in which the commission shall function, where the action is instituted by the plaintiff or plaintiffs on beha…

52:27-36. Approval by Supreme Court justice of plan of adjustment or composition; findings In any such action, after hearing on the plan proposed or on the plan as modified by order and if such plan as proposed or modified is approved in writing by creditors representing eighty-f…

52:27-37. Approved plan binding on all creditors; substituted obligations The plan of adjustment so authorized and approved shall forthwith and without any further action of any kind be binding upon all the creditors included in the plan, whether or not they appear in the proceed…

52:27-38. Continuance of stay of proceedings against municipality; action by creditor to enforce claim restricted After the institution of any action or proceeding provided for by this article and pending the determination thereof, the Superior Court may by order continue the sta…

52:27-39. Reduction in principal of outstanding notes or bonds prohibited Notwithstanding any provisions of this article the commission shall not approve any adjustment or composition, or plan presented pursuant to this article, which provides for the reduction in the principal a…

52:27-39.1. State, State school or county taxes, compromise of county's claim against certain municipalities for If a municipality in which the municipal finance commission may be or may have been functioning shall for eight years have been in arrears in the payment of the whole …

52:27-39.2. Resolution of county board required; previous payment by county to State required Such compromise settlement shall be entered into only upon authorization by resolution of the board of chosen freeholders of the county and only if prior thereto the county or its treasu…