New Jersey Acts Saved from Repeal ACTS SAVED 30 § 3-4(16)

16. (a) If in any year or at any time funds as appropriated by section fifteen hereof necessary to meet the interest and principal payments upon outstanding bonds issued under this act be insufficient or are not available, then and in that case, there shall be assessed, levied and collected annually in each of the municipalities of the counties of this state, a tax on real and personal property upon which municipal taxes are or shall be assessed, levied and collected, sufficient to meet the interest on all outstanding bonds issued hereunder and on such bonds as it is proposed to issue under this act in the calendar year, in which such tax is to be raised and for the payment of bonds falling due in the year following the year for which the tax is levied.

(b) The tax thus imposed shall be assessed, levied and collected in the same manner and at the same time as other taxes upon real and personal property are assessed, levied and collected. The governing body of each municipality shall cause to be paid to the county treasurer of the county in which such municipality is located on or before the fifteenth day of December in each year the amount of tax herein directed to be assessed and levied, and the county treasurer shall pay the amount of said tax to the state treasurer on or before the twentieth day of December in each year.