State Codes and Statutes

Statutes > New-jersey > Title-18a > Section-18a-24 > 18a-24-25

18A:24-25.  Submission to commissioner and local finance board; limiting conditions
    A copy of any ordinance or proposal authorizing the issuance of any school bonds under section 18A:24-23 shall be submitted to the commissioner and the local finance board, for their consideration, and the commissioner or the local  finance board, in considering the copy of any ordinance or proposal submitted  to them as required by section 18A:24-23, and before endorsing his or their  consent thereon, may require the governing body, or the board of education,  submitting such copy to adopt resolutions restricting or limiting any future  proceedings therein or other matters or things deemed by the commissioner or  local finance board to affect any estimate made or to be made by him or them in  accordance with sections 18A:24-26 and 18A:24-27, and every such resolution so  adopted shall constitute a valid and binding obligation of the municipality or  the school district, as the case may be, running to and enforceable and  releasable by the commissioner or the local finance board, as the case may be.
 
L.1967, c.271.