N.J. Admin. Code § 5:30-10.2
Current through Register Vol. 57, No. 1, January 6, 2025
A default in the payment of bonded obligations or notes due to insufficient funds, failure to authorize payment, or failure to make payment for any other reason shall be grounds for the Local Finance Board to place a municipality under State Supervision pursuant to N.J.S.A. 52:27BB-55(1).
N.J. Admin. Code § 5:30-10.2