The principal of any temporary notes or loan bonds shall be paid from the proceeds of the permanent bonds, in anticipation of the issuance of which they were issued, or from funds from time to time appropriated for such payments, and the interest upon such temporary notes or loan bonds shall be paid in the same manner as interest is paid upon permanent bonds.
N.J. Stat. Ann. § 18A:24-4
Payment of principal of temporary bonds from proceeds of permanent bonds
Known as the The School Qualified Bond Act
The act spans §§ 18A:24-1 to 18A:24-97 (116 sections).
L.1967, c.271.
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.