17-2356. Exemption of property from execution sale, when.
17-2356
17-2356. Exemption of property from execution sale, when.
All property (including funds) owned or held by a municipality for the
purposes of this act shall be exempt from levy and sale by virtue of an
execution, and no execution or other judicial process shall issue against
the same nor shall any judgment against the municipality be a charge or
lien upon such property: Provided, however, That the provisions of
this section shall not apply to or limit the right of obligees to foreclose
or otherwise enforce any mortgage or other security executed or issued
pursuant to this act or the right of obligees to pursue any remedies for
the enforcement of any pledge or lien on rents, fees or revenues or the
right of the federal government to pursue any remedies conferred upon it
pursuant to the provisions of this act.
History: L. 1957, ch. 132, § 20; L. 1973, ch. 96,
§ 16; July 1.