17-4753. Property exempt from levy and sale by execution and judgment charge or lien; alternative remedies.
17-4753
17-4753. Property exempt from levy and sale by
execution and judgment charge or lien; alternative remedies.
(a) All property of a municipality, including funds, owned or held by it
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 judgment against a 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 pursue
any remedies for the enforcement of any pledge or lien given pursuant to
this act by a municipality on its rents, fees, grants or revenues from
urban renewal projects.
(b) The property of a municipality, acquired or held for the purposes of
this act, is declared to be public property used for essential public and
governmental purposes.
History: L. 1955, ch. 86, § 12; L. 1975, ch. 495, §
11; July 1.