40A:2-10. Filing of supplemental debt statement required
Prior to the passage on first reading of any bond ordinance, or ordinance amending a bond ordinance, except amending as to matters which are not required to be contained in a bond ordinance or which does not increase the total amount of the obligations authorized by such bond ordinance, a financial officer of the local unit shall execute and swear to a supplemental debt statement which shall be filed in the office of the clerk. Prior to the final passage of such ordinance, an executed duplicate of such statement shall be filed in the office of the director.
40A:2-42. Supplemental debt statement
A supplemental debt statement shall be in form prescribed by the director and shall set forth as to the local unit:
- a. The net debt as stated in the annual debt statement or revision thereof last filed; the amount by which such net debt has been increased by the authorization of additional debt or decreased by payment of outstanding debt or reduction of the authorization to incur debt;
- b. The amounts and purposes separately itemized of obligations about to be authorized, together with any deductions which may be made on account of any such item;
- c. The net debt of the local unit as determined by addition of the net amounts stated in subsections a and b;
- d. The equalized valuations of the taxable real estate, together with improvements for the last 3 preceding years, and the average thereof as stated in the annual debt statement or revision thereof last filed; and
- e. Net debt expressed as a percentage of said average of equalized valuations.