N.J. Stat. § 40:67-16.7
The governing body of any municipality may, by ordinance, authorize the mayor or other chief executive officer of the municipality, or the officer, in charge of streets in any municipality not having a chief executive officer, if he shall find that a safety problem exists for ingress and egress to any public or private school or for the provision of recreational facilities for children attending such school, or both, due to lack of a suitable area surrounding the school, to close by regulation any portion of any street within the block upon which such school is located, to the use of through traffic during such time as he shall determine, not to exceed 1 hour between 7:30 and 10:00 A.M., 2 hours between 11:00 A.M. and 2:00 P.M. and 1 hour between 2:30 and 4:30 P.M., on any days upon which such school is in session and to permit the use of said portion of said street, during said hours, for ingress and egress to such school, and for the use by the pupils of such school for recreational purposes, under proper supervision and to provide adequate police facilities for such supervision and for the control of traffic upon such portion of said street, which ordinance shall provide for the posting of proper warning signs in said street indicating that said street is so closed and the purpose thereof, during the time when the same is so closed and shall provide penalties for the violation of the terms of such ordinance or of any regulation promulgated thereunder.
N.J.S. § 40:67-16.7