In any fiscal year, in anticipation of the collection of taxes for such year, whether levied or to be levied in such year, or in anticipation of other revenues for such year, any local unit may, by resolution, borrow money and issue its negotiable notes, each of which shall be designated "tax anticipation note of 19 " (stating the fiscal year).
N.J. Stat. Ann. § 40A:4-64
Tax anticipation notes
Known as the Local Budget Law
The act spans §§ 40A:4-1 to 40A:4-9 (170 sections).
L.1960, c. 169, s. 1, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.