18A:58-33.32 - Temporary notes or loan bonds;Ā issuance
18A:58-33.32.Ā Temporary notes or loan bonds;Ā issuance
Any school district, municipality or county which has authorized bonds whichĀ are entitled to the benefits of this act, may issue temporary notes or loanĀ bonds (hereinafter calledĀ "notes" ) in anticipation of the issuance of permanent bonds to the extent permitted or provided by or pursuant to the provisions of Title 18A, Education, of the New Jersey Statutes or any other laws applicable, subject to such additional terms or conditions with respect toĀ such notes as may be fixed or required by the Commissioner of Education to insure that funds are borrowed only as needed to meet required payments for construction or acquisition of the educational facilities to be financed by theĀ issuance of permanent bonds.
L.1978, c. 74, s. 11, eff. July 13, 1978.
Any school district, municipality or county which has authorized bonds whichĀ are entitled to the benefits of this act, may issue temporary notes or loanĀ bonds (hereinafter calledĀ "notes" ) in anticipation of the issuance of permanent bonds to the extent permitted or provided by or pursuant to the provisions of Title 18A, Education, of the New Jersey Statutes or any other laws applicable, subject to such additional terms or conditions with respect toĀ such notes as may be fixed or required by the Commissioner of Education to insure that funds are borrowed only as needed to meet required payments for construction or acquisition of the educational facilities to be financed by theĀ issuance of permanent bonds.
L.1978, c. 74, s. 11, eff. July 13, 1978.
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