52:27-55 - Tax to pay notes and bonds; reserve or sinking fund - New Jersey Statutes

52:27-55.  Tax to pay notes and bonds;  reserve or sinking fund    Any school district which shall have issued any notes or bonds pursuant to this article shall have the power to raise by a district tax any sum or sums for the purpose of providing for the payment of the interest thereon and the principal thereof and for the setting aside of necessary reserve or sinking funds therefor.  The full faith and credit of such school district shall be deemed to have been pledged for the punctual payment of interest on and principal of all notes and bonds issued pursuant to this article.