18A:58-33.19 - Annual payments to school districts and municipalities; use - New Jersey Statutes

18A:58-33.19.  Annual payments to school districts and municipalities; use
    As provided in this act, every school district and municipality which shall  be entitled thereto, shall receive annually the amount of its additional State  school building aid and the State Board of Education shall include such amount  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 payment  of debt service (interest and principal) on bonds or notes entitled to the  benefits of the provisions of this act.

     L.1971, c. 10, s. 14, eff. Jan. 21, 1971.