Current as of February 19, 2021 | Updated by FindLaw Staff
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All assessments as collected shall be immediately placed in an account to be known as “local improvement assessment account”. Such moneys shall be used only to pay indebtedness incurred for such improvements whether by temporary or permanent certificates, notes or bonds. Whenever a sinking fund is maintained, upon a vote of the governing body such moneys as collected shall be paid into such sinking fund and kept in a similarly designated account and used for the purposes herein described.
Cite this article: FindLaw.com - New Jersey Statutes Title 40. Municipalities and Counties 40 § 56-36 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-40-municipalities-and-counties/nj-st-sect-40-56-36/
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