All bonds issued under this chapter shall be payable in annual installments commencing not more than two years from their date, and no installment shall be more than 100% in excess of the amount of the smallest prior installment.
N.J. Stat. Ann. § 18A:24-6
Bonds payable in installments
Known as the The School Qualified Bond Act
The act spans §§ 18A:24-1–18A:24-97 (116 sections).
L.1967, c.271; amended by L.1983, c. 458, s. 1, 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.