New Jersey Acts Saved from Repeal ACTS SAVED 54 § 4-104.2(1)

1. Whenever the governing body of any municipality of this state shall, by resolution adopted during the calendar year one thousand nine hundred and thirty-six, declare that it is for the best interest of its citizens that the provisions of this act be made available to its property owners, then all taxes, assessments, tax sale certificates held by the municipality or other municipal liens in arrears on January first, one thousand nine hundred and thirty-six, and not yet paid and satisfied, together with the interest and penalties thereon, shall, when brought under the provisions of this act by compliance with section seven of this act, and subject to the conditions hereinafter set out to be totaled as of said date; and the payment of such totaled sum shall be spread over a period of five years, and the same shall be payable in monthly or quarterly installments as stated in said resolution commencing August first, one thousand nine hundred and thirty-six, with interest on the several unpaid balances at the rate of seven per cent (7%) per annum, payable on the same quarterly dates.