2009 New Jersey Code
TITLE 27 - HIGHWAYS
Section 27:14
27:14-10 - Municipal bond issue

27:14-10.  Municipal bond issue     When a municipality shall have undertaken to pay ten per cent of the cost of  an improvement under the provisions of this article either by resolution of the  governing body, or otherwise, and in the opinion of the governing body, to be  determined by resolution, it would be too burdensome on the taxpayers of the  municipality to place in the tax levy for any fiscal year the portion of the  expense of the improvement to be borne by it, the governing body may issue  bonds for the amount undertaken to be paid by the municipality.