§ 75-2. Definitions.

Latest version.

As used in this chapter, the following terms shall have the meanings indicated:

DISTRICT MANAGEMENT CORPORATION

An entity created by municipal ordinance or incorporated pursuant to N.J.S.A. 15A:1-1 et seq. and designated by municipal ordinance to receive funds collected by a special assessment within a special improvement district as authorized by this chapter.

SPECIAL IMPROVEMENT DISTRICT

An area within the Borough of Netcong designated by this chapter as an area in which a special assessment on all property within the district shall be imposed for the purposes of promoting the economic and general welfare of the district and the Borough of Netcong. This shall not include those properties exclusively used for residential purposes.

                    
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