The price for which bonds of any one issue of a type II district shall be sold shall not exceed by more than $1,000.00 the par value of the bonds of such issue offered for sale. In order that the amount bid at such sale shall not exceed such price, a sufficient number of the last maturing bonds shall be of the denomination of $1,000.00 or less.
N.J. Stat. Ann. § 18A:24-40
Cash premium not to exceed $1,000.00
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.