40A:7-17.  Indebtedness of annexed municipality apportioned The municipality to which the territory shall be annexed, shall be liable to  pay a proper proportion of the bonded and other indebtedness of the municipality of which the annexed territory formerly formed a part, which portion of such indebtedness shall be ascertained in the manner hereinafter provided.

L.1979, c. 181, s. 2, eff. Aug. 29, 1979.