{"data":{"id":"us-nj/n.j.-stat.-52-27-25","jurisdiction":"us-nj","citation":"N.J. Stat. § 52:27-25","heading":"Municipal tax to pay notes and bonds;  reserve fund; withdrawals","body":"Any municipality in which the commission is functioning may levy taxes ad valorem upon all taxable property therein for the purpose of paying the principal of or interest on any notes, bonds or other obligations or indebtedness of such municipality issued under this or any other law, except notes or bonds issued after December thirty-first, one thousand nine hundred and forty-six pursuant to this chapter for the payment of principal of or interest on which the faith and credit of the municipality shall not have been pledged by provision or recital in such notes or bonds or in the resolution or resolutions providing for the issuance of such notes or bonds, and such municipality may also provide for a reserve fund for the payment of said principal and interest, which fund shall be under the immediate jurisdiction of  the sinking fund commissioners or of a financial officer of the municipality,  as the commission shall approve.\nNo money shall be withdrawn from said reserve fund or sinking fund for investment or otherwise without the approval of the commission.\nAmended by L.1947, c. 54, p. 189, s. 2.","path":["TITLE 52 STATE GOVERNMENT, DEPARTMENTS AND OFFICERS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"58e86e87d17454367462f405bb29118dbada4509b121f1a8685082f199dd6544","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-52-27-24","next":"us-nj/n.j.-stat.-52-27-26"},"notice":"GroundRules: Original legal text. Not legal advice."}