No part of the principal or interest of the fund shall be invested in bonds secured by mortgage on lands except as hereinafter provided in the case of purchase money mortgages.
N.J. Stat. Ann. § 18A:56-11
Investment in bonds secured by mortgages
Known as the New Jersey School Bond Reserve Act
The act spans §§ 18–18 (21 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.