N.J. Stat. § 40A:7-17
Current through L. 2024, c. 62.
The municipality to which the territory shall be annexed, shall be liable to pay a proper proportion of the bonded and other indebtedness of the municipality of which the annexed territory formerly formed a part, which portion of such indebtedness shall be ascertained in the manner hereinafter provided.
N.J.S. § 40A:7-17