No school bonds or refunding bonds shall be authorized unless there shall be prepared and filed in accordance with section 18A:24-17 a supplemental debt statement in the form provided by law, setting forth the amounts of all bonds and notes of the district issued and outstanding, or authorized but not issued, and determining the net school debt of the district and giving effect to the proposed authorization of school bonds. With respect to refunding bonds, the supplemental debt statement shall reflect either new and unissued debt or the amount of the refunding debt in excess of the debt to be refunded.
N.J. Stat. Ann. § 18A:24-16
Supplemental debt statements; necessity for and contents
Known as the The School Qualified Bond Act
The act spans §§ 18A:24-1–18A:24-97 (116 sections).
L.1967, c.271; amended 1978, c.71, s.1; 2003, c.264, s.1.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.