Resolution Authorizing Premium to Escheat to Municipality After Five Years
WHEREAS, in accordance with N.J.S.A. 54:5-33: Any premium payments shall be held by the collector and returned to the purchaser of the fee if and when redemption is made. If redemption is not made within five years from date of sale/foreclosure, the premium payment shall be turned over to the treasurer of the municipality and become part of the funds of the municipality.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and Council for the City of Asbury Park authorize, that they hereby authorize the Chief Financial Officer to accept the premiums in for premium of Tax Sale Certificates.
|MOVER:||Jesse Kendle, Councilmember|
|SECONDER:||Amy Quinn, Deputy Mayor|
|AYES:||Eileen Chapman, Jesse Kendle, Amy Quinn, John Moor|