40A:4-28 - Miscellaneous revenues;Ā sinking fund surplus
40A:4-28.Ā Miscellaneous revenues;Ā sinking fund surplus
Whenever the sinking funds to the credit of the several issues of term bondsĀ of a local unit equal the principal of such issues and there is a cash surplusĀ in the sinking fund, such surplus may, upon written application by the sinkingĀ fund commission and the approval of the director, be used, in whole or in part,Ā as an anticipated miscellaneous revenue in the budget of such local unit.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
Whenever the sinking funds to the credit of the several issues of term bondsĀ of a local unit equal the principal of such issues and there is a cash surplusĀ in the sinking fund, such surplus may, upon written application by the sinkingĀ fund commission and the approval of the director, be used, in whole or in part,Ā as an anticipated miscellaneous revenue in the budget of such local unit.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.