N.J. Stat. § 40A:2-48
Self-liquidating utility deficits
New Jersey · New Jersey Statutes Title 40A — Municipalities and Counties · Status: effective
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- Citation
- N.J. Stat. § 40A:2-48, Self-liquidating utility deficits, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1468435
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Full text
The amount of the deficit in the income of a self-liquidating municipal public utility applicable to interest and debt redemption, or the prospective amount of such deficit as determined by the local government board or, in the case of a project undertaken pursuant to the urban redevelopment law, the Division of Planning and Development in the Department of Conservation and Economic Development, shall be capitalized at 5% and the capital sum so determined shall not be deductible from the gross debt.