Section 40A:4-49 - Emergency appropriations exceeding, with other appropriations, 3% of the operating appropriationsAn emergency appropriation which together with all prior emergency appropriations made during the same year exceeds 3% of the total current and utility operating appropriations in the budget for that year shall be made as follows:
a. The governing body shall, by resolution adopted by not less than 2/3 vote of its full membership, petition the director for permission to exceed the limitation of 3%.b. The resolution shall be in the form and content prescribed by the local government board, and shall set out the nature of the emergency in full.c. The director shall consider the resolution and, if requested by local taxpayers or by the governing body, hold a hearing thereon.d. The director shall, within 5 days after receipt of the resolution, or if a hearing is held, after the hearing, determine whether an emergency exists which requires such appropriation.e. If the director determines that such appropriation is necessary, he shall fix the maximum amount and the governing body shall not exceed that amount.L.1960, c.169, s.1, eff. 1/1/1962.