New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 30 - LOCAL FINANCE BOARD
Subchapter 2 - LOCAL BOND LAW
Section 5:30-2.1 - Exceptions to debt limitation of N.J.S.A 40A:2-7
Universal Citation: NJ Admin Code 5:30-2.1
Current through Register Vol. 56, No. 18, September 16, 2024
When a local government seeks a waiver from the debt limitations of 40A:2-6 for a bond ordinance authorizing obligations solely for the purposes delineated in 40A:2-7, the application must be submitted to the Local Finance Board within the established filing schedule on a form approved by the Board. Approval of bond and note financing in excess of the debt limit under 40A:2-7(c), (d) and (e) require the applicant to justify and demonstrate the existence of extraordinary conditions.
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