Find Laws Find Lawyers Free Legal Forms USA State Laws

NEW JERSEY STATUTES AND CODES

18A:24-61.9 - Sale or exchange of refunding bonds

18A:24-61.9.  Sale or exchange of refunding bonds
    Refunding bonds may be sold at public or private sale, or may be exchanged for any outstanding bonds to be funded or refunded, pursuant to resolution adopted by not less than   2/3   of the full membership of the board of education, at such price or prices, computed according to standard tables of bond values, as will yield to the purchasers or to the holders of the refunded bonds surrendered in exchange, an income at a rate not to exceed 6% per annum to the maturity dates of the refunding bonds sold or exchanged, on the money paid or the principal amount of the refunded bonds or notes surrendered therefor to the local unit.  Refunding bonds of any authorized issue or of any authorized maturity may be sold or exchanged as hereinabove provided from time to time and in such blocks as may be deemed advisable.  The officer of the school district delivering any refunding bonds in exchange for outstanding refunded bonds shall report in writing to the board of education at the next meeting thereof as to the principal amounts, maturities and numbers of the refunding bonds so delivered and as to the refunded bonds received in exchange,  which report shall be entered in the minutes of the board of education, and a  copy of such report shall be filed within 5 days thereafter with the director.

     L.1969, c. 130, s. 9, eff. July 2, 1969.
 

New Jersey Forms by Issue

New Jersey Court Forms
> Civil (County)
New Jersey Family Forms
New Jersey Tax Forms

New Jersey Law

New Jersey State Laws
    > New Jersey Child Support
    > New Jersey Statutes
New Jersey Tax
    > New Jersey State Tax
New Jersey Labor Laws
    > New Jersey Unemployment
New Jersey Agencies
    > New Jersey Department of Corrections
    > New Jersey Department of Education
    > New Jersey DMV
    > New Jersey State Police

New Jersey Court Map

Tips