18A:56-5 - State lands under water and revenue from sales thereof; restriction on revenue - New Jersey Statutes

18A:56-5.  State lands under water and revenue from sales thereof; restriction on revenue
    All lands belonging to this State now or formerly lying under water are dedicated to the support of public schools.  All moneys hereafter received from  the sales of such lands shall be paid to the board of trustees, and shall  constitute a part of the permanent school fund of the State.  To the extent  that moneys received from the sales of these lands may, by law, be made payable  to any purposes other than the school fund, these moneys shall not be paid to  other purposes so long as there is a deficiency in the school bond reserve.

  L.1967, c.271; amended by L.1980, c. 72, s. 3, eff. July 16, 1980.