18A:58-33.37 - Annual payments to school districts and municipalities; use
18A:58-33.37.Ā Annual payments to school districts and municipalities; use
As provided in this act, every school district and municipality which shallĀ be entitled thereto, shall receive annually the amount of its additional StateĀ school building aid and the State Board of Education shall include such amountĀ thereof in its annual budget for building aid for such school district. Amounts of such building aid paid under this act shall be used for the paymentĀ of debt service (interest and principal) on bonds or notes entitled to theĀ benefits of the provisions of this act.
L.1978, c. 74, s. 16, eff. July 13, 1978.
Ā
As provided in this act, every school district and municipality which shallĀ be entitled thereto, shall receive annually the amount of its additional StateĀ school building aid and the State Board of Education shall include such amountĀ thereof in its annual budget for building aid for such school district. Amounts of such building aid paid under this act shall be used for the paymentĀ of debt service (interest and principal) on bonds or notes entitled to theĀ benefits of the provisions of this act.
L.1978, c. 74, s. 16, eff. July 13, 1978.
Ā
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