There is a newer version of the New Jersey Revised Statutes
2013 New Jersey Revised Statutes
Title 52 - STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Section 52:27-39 - Reduction in principal of outstanding notes or bonds prohibited
NJ Rev Stat § 52:27-39 (2013) What's This?
52:27-39. Reduction in principal of outstanding notes or bonds prohibited
Notwithstanding any provisions of this article the commission shall not approve any adjustment or composition, or plan presented pursuant to this article, which provides for the reduction in the principal amount of any outstanding notes or bonds of the municipality.
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