40:48-17.5 - Financing project; bonds; use of proceeds to repay federal advances - New-jersey Statutes

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40:48-17.5. Financing project; bonds; use of proceeds to repay federal advances
Before undertaking any public project for which plans are prepared in accordance with such an agreement, the municipality shall, either by an appropriation lawfully made or by an authorization of bonds, make available the funds necessary to make any repayment required by such agreement. Notwithstanding the provisions of any other law, moneys raised for such public project by the issuance of bonds duly authorized at any time prior to the undertaking of such public project may, if the bond ordinance authorizing the bonds shall so provide, be used to make any such repayment.

L.1946, c. 101, p. 324, s. 2.

State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-48 > 40-48-17-5

40:48-17.5. Financing project; bonds; use of proceeds to repay federal advances
Before undertaking any public project for which plans are prepared in accordance with such an agreement, the municipality shall, either by an appropriation lawfully made or by an authorization of bonds, make available the funds necessary to make any repayment required by such agreement. Notwithstanding the provisions of any other law, moneys raised for such public project by the issuance of bonds duly authorized at any time prior to the undertaking of such public project may, if the bond ordinance authorizing the bonds shall so provide, be used to make any such repayment.

L.1946, c. 101, p. 324, s. 2.

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State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-48 > 40-48-17-5

40:48-17.5. Financing project; bonds; use of proceeds to repay federal advances
Before undertaking any public project for which plans are prepared in accordance with such an agreement, the municipality shall, either by an appropriation lawfully made or by an authorization of bonds, make available the funds necessary to make any repayment required by such agreement. Notwithstanding the provisions of any other law, moneys raised for such public project by the issuance of bonds duly authorized at any time prior to the undertaking of such public project may, if the bond ordinance authorizing the bonds shall so provide, be used to make any such repayment.

L.1946, c. 101, p. 324, s. 2.