State Codes and Statutes

Statutes > New-jersey > Title-18a > Section-18a-24 > 18a-24-20

18A:24-20.  Authorization of bonds in excess of limits prescribed in section  18A:24-19;  exception of type I districts
    School bonds may be authorized and issued in the manner prescribed in section 18A:24-21, notwithstanding the provisions of section 18A:24-19, by, or for the purposes of, any district other than a regional district, within the limitations and upon compliance with the provisions of this article to the extent that the percentage of net debt as stated in a supplemental debt statement required to be filed as to such authorization, and prior thereto, shall not exceed 3  1/2  %.

L.1967, c.271; amended by L.1968, c. 163, s. 2, eff. July 16, 1968;  L.1968, c. 295, s. 9, eff. Sept. 9, 1968.