New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 30 - LOCAL FINANCE BOARD
Subchapter 10 - MUNICIPALITIES UNDER STATE SUPERVISION
Section 5:30-10.2 - Default in municipal debt obligations
Universal Citation: NJ Admin Code 5:30-10.2
Current through Register Vol. 56, No. 18, September 16, 2024
A default in the payment of bonded obligations or notes due to insufficient funds, failure to authorize payment, or failure to make payment for any other reason shall be grounds for the Local Finance Board to place a municipality under State Supervision pursuant to N.J.S.A. 52:27BB-55(1).
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