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State Finance To Meet All Bonds New Body To Assist North Bergen In Adjusting Defaulted Obligations Amount To Over $4,000,000 TRENTON, Today two State Finance created the Legislature to assist North Bergen in adjusting defaulted ligations has approved plans finance both long and short term bonds and to meet $160,000 on long term July made. yesterapproved plan to pay intershort notes August and for with for thirty- his day Notes totaling be to meet Mayor Julius Reich told the North Bergen had indicated they would take notes, The newed short obligations total about $4,000,000. Walter Darby. State Commissioner Municipal Accounts, of Finance Commission, clause was inserted permit the before the six month expired, this possible. He said of the townwould completed about October final plan of refinancing must wait. he reassessment adjustment of tax and appeals. The advised the township to deposit all ment collected the fund as optionally in the rule act. funds Darby the fun the township. An three praisers of township was tentatively the North Bergen approve. The estimated $30,000. Henry Steneck, of the closed Trust Company, Hoboken, asked the prove of tax notes North Bergen to meet some obligations by the institution. holds aptownship bonds notes which about default. Darby told Steneck the commission coule endorse such plan unless Frank Smith, State Commissionof Banking and Insurance, and the township approved. Attorney' General Stevens, memof the the have $4,000,000 at end of 1931 which stride said he had conferred with attorneys for from assessand an attitude He said. the appeals, however, would require court action.