N.J. may allow your town and county to borrow to avoid public worker layoffs and cuts to services

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Gov. Phil Murphy signed a bill earlier this month authorizing the state to borrow as much as $9.9 billion to offset revenue losses amid the pandemic.Now it may be local governments’ turn to borrow. .The Senate Budget and Appropriations Committee on Tuesday approved a bill allowing towns and counties to sell bonds backed by property taxes to help cover lost revenue from taxes and fees and unforeseen expenses related to the coronavirus.The state Assembly passed the bill 57-20 with three abstentions in May.Despite fairly stable May property tax collections, local government officials say they’re …

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