New Jersey Revised Statutes § 40:56-36 - Separate Account For Assessments; Sinking Fund

40:56-36. Separate account for assessments; sinking fund
All assessments as collected shall be immediately placed in an account to be known as "local improvement assessment account" . Such moneys shall be used only to pay indebtedness incurred for such improvements whether by temporary or permanent certificates, notes or bonds. Whenever a sinking fund is maintained, upon a vote of the governing body such moneys as collected shall be paid into such sinking fund and kept in a similarly designated account and used for the purposes herein described.

Section: Previous  40-56-29  40-56-30  40-56-31  40-56-32  40-56-33  40-56-34  40-56-35  40-56-36  40-56-37  40-56-38  40-56-39  40-56-40  40-56-41  40-56-41.1  40-56-41.2  Next

Last modified: October 11, 2016