§ 120-k. Payments; how made. It shall be lawful for the governing body
or board having control of the finances of such contracting
municipality, in lieu of issuing the bonds of such municipality, to pay
its proportion of the costs and expenses of any improvements jointly
contracted for and made under this act, with money to be raised by
taxation, after the making of the public improvements herein authorized
have been determined upon and a joint contract made and entered into
pursuant to the provisions of this act, or by paying the whole or part
of such indebtedness out of all moneys belonging to such contracting
municipality not otherwise appropriated or required.