School bonds may be authorized and issued in the manner prescribed in section 18A:24-21, notwithstanding the provisions of section 18A:24-19, by, or for the purposes of, any district other than a regional district, within the limitations and upon compliance with the provisions of this article to the extent that the percentage of net debt as stated in a supplemental debt statement required to be filed as to such authorization, and prior thereto, shall not exceed 3 1/2 %.
N.J. Stat. Ann. § 18A:24-20
Authorization of bonds in excess of limits prescribed in section 18A:24-19; exception of type I districts
Known as the The School Qualified Bond Act
The act spans §§ 18–18 (116 sections).
L.1967, c.271; amended by L.1968, c. 163, s. 2, eff
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.