New Jersey Acts Saved from Repeal ACTS SAVED 40 § 160-2(4)

4. Whenever any village has been or shall become separated from the township in which it was or is contained and given complete autonomy of local government, a committee of three to be appointed by said board of trustees from their own number, and a like committee to be appointed by the township committee from their own number, shall meet at a time and place to be designated by said board of trustees, and shall then and there, or as soon thereafter as may be, proceed to apportion, appraise, state an account of, allot and divide between said village and township all the moneys on hand, assets and liens, and property of every kind (excepting school property), and all the indebtedness of such municipality (excepting school indebtedness) in proportion to the taxable property and estates within the respective limits of such municipalities; provided, that any real estate acquired and held for public use shall be and remain the property of the municipality wherein it is located, and any indebtedness then existing incurred for or on account of said real estate shall be and remain the indebtedness of the municipality which retains such real estate; such apportionment shall be based upon the last abstract of ratables made for the purpose of levying taxes in each of said municipalities; in effecting such apportionment and allotment a decision of a majority of those present of the committee of such village concurred in by a majority of those present of the committee of said township, shall be final and conclusive; if any member of either of said committees shall neglect or refuse to attend such meeting, those assembled may act; provided, that it shall be lawful for a majority of the whole number of such joint committee to adjourn such meeting from time to time, not exceeding one week; said joint committee shall appoint a clerk from their own number, who shall keep a record of their proceedings and shall certify to each municipality the apportionment of assets and debts so made; such joint committee shall have power to issue subpoenas and to compel the attendance of any of the officers of either of the municipalities affected, to compel the production of all books and papers relating to the subject matter under consideration and to administer oaths or affirmations to any person appearing before said committee to testify, and shall have the same power to enforce its process of subpoena and to compel any person to attend and testify as is given to committees appointed by the common council of any city under the provisions of an act entitled “An act concerning evidence” [Revision], approved March twenty-seventh, one thousand eight hundred and seventy-four, and the several supplements thereto.