N.J. Stat. tit. 52, ch. 8

N.J. Stat. tit. 52, ch. 8
in effect

N.J. Stat. § 52:8-1 Apportionment of surplus revenue among counties; repayment; loans; annual statement

L.1837, p. 432 (Rev.1877, pp. 1131, 1132, s.s. 1 to 4 [C.S. pp. 5052 to 5054, s.s. 1 to 4] ), entitled "An act making provisions for the deposit and distribution of so much of the surplus revenue of the United States as now is or may hereafter be apportioned to and received by this state," passed March tenth, one thousand eight hundred and thirty-seven, saved from repeal, together with the supplement thereto passed March seventh, one thousand eight hundred and thirty-nine. L.1839, p. 157 (Rev.1877, pp. 1132 to 1134, s.s. 5 to 11 [C.S. pp. 5054 to 5056, s.s. 5 to 11] ). [These acts authorized the distribution among the counties of the state's portion of the surplus revenue of the United States; required the counties to issue certificates of deposit therefor and to repay such moneys whenever required for the purpose of being refunded into the United States treasury. Upon any county failing to return the money within three months after notice so to do, the state is authorized to levy a tax on the county therefor. The counties may loan the moneys so distributed and apportion the interest among the townships. Annually each county is required to publish a detailed statement of the loans.]

N.J. Stat. § 52:8-2 Receipt of fund by state treasurer; taxation to raise principal; cancellation of receipts

The State Treasurer shall receive from the several counties or municipalities all of the amounts of the "1837 Surplus Revenue Fund" deposited with the counties in accordance with the act entitled "An act making provisions for the deposit and distribution of so much of the surplus revenue of the United States as now is or may hereafter be apportioned to and received by this State," passed March 10, 1837 (L.1837, p. 432), with its amendments and supplements, and give his receipt therefor. The several governing bodies of the counties or municipalities having heretofore received such funds shall raise by taxation the whole of the principal thereof remaining unpaid and provide for the same in the annual budget of appropriations for the year 1960 and repay it into the State Treasury on or before December 31, 1960. When a county or municipality shall have so repaid the full amount of the deposit received by it, the State Treasurer shall cancel and return to the duly authorized official of the county or municipality the receipts and pledges of said county or municipality, if any, heretofore delivered to the State. Amended by L.1959, c. 64, p. 179, s. 1.

N.J. Stat. § 52:8-3 Transfer of duties to state treasurer; notices to counties

To carry out and accomplish the purposes of this chapter and the act of March tenth, one thousand eight hundred and thirty-seven, the state treasurer may do all or any of the acts or duties heretofore cast upon the governor, treasurer and speaker of the house of assembly, and he shall give and serve such notice or notices upon the governing bodies of the various counties as may be necessary or expedient to accomplish such purposes. Said notice or notices shall be as effectual as if done under said act of March tenth, one thousand eight hundred and thirty-seven, its supplements and amendments.

N.J. Stat. § 52:8-4 Definition of fund; state treasurer as custodian

The moneys received by the state treasurer pursuant to the provisions of this chapter shall be kept as a fund to be known as the "1837 Surplus Revenue Fund" . The treasurer is hereby constituted the custodian of the fund and the surety bond given by him as state treasurer shall also cover his acts as such custodian.

N.J. Stat. § 52:8-5 Investment of moneys in fund

The moneys in said fund shall be invested by the state treasurer only in bonds of the United States or of the state of New Jersey or of any county, municipality or school district of this state, or in the negotiable notes of any county, municipality or school district of this state.

N.J. Stat. § 52:8-6 Apportionment of income

The income of the fund shall be apportioned annually on or before the thirtieth day of June to the several counties in the proportion that the amount repaid or redeposited in the State treasury by each county shall bear to the total of the principal of the fund so repaid or redeposited. The amounts so apportioned shall be paid by the State Treasurer to the several treasurers of the counties entitled to receive the same. The amount so received by the treasurer of the county shall be further apportioned among the several school districts of that county in the same manner as other school funds are apportioned. In making the first apportionment under this amendatory statute the same may include income from the twelfth day of March, one thousand nine hundred and forty-five, to the thirtieth day of June, one thousand nine hundred and forty-six. Amended by L.1946, c. 62, p. 236, s. 1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026

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