Title 18A, Title 18A: EDUCATION

18A:56-13. Purchase of lands by board on foreclosure The board of trustees may bid for and purchase any lands and premises exposed to sale under the order and judgment of any court for the payment and satisfaction of any mortgage thereon held by the board, and may take and hold t…

18A:56-14. Sale of real estate held or acquired All real estate held by the trustees for the support of public schools and all real estate that may be acquired by them under foreclosure proceedings shall be sold, either at private or public sale, at such times and at such prices …

18A:56-15. Income of funds; use of; payment of premiums on bonds The income of the school fund shall be paid into the general fund of the state treasury, and shall be used for the support of public schools, the payment of salaries of county superintendents and the payment of accr…

18A:56-16 Certification of anticipated default; purchase of bonds, payment of interest by trustees; State aid treatment. 18A:56-16. In the event that a school district or a county or municipality anticipates that it will be unable to meet the payment of principal or interest on a…

18A:56-17. Short title This act shall be known and may be cited as the "New Jersey School Bond Reserve Act." L.1980, c. 72, s. 1, eff. July 16, 1980.

18A:56-18. Legislative finding and declaration The Legislature finds and declares that: a. It has the authority pursuant to Article VIII, Section IV, paragraph 2 of the State Constitution to secure the payment of principal of and interest on bonds issued for school purposes by co…

18A:56-19 School bond reserve accounts; establishment; composition; funding of accounts. 5. a. There is established within the fund for the support of free public schools a school bond reserve. The school bond reserve shall consist of two accounts, the old school bond reserve acc…

18A:56-2. Secretary of board; records The secretary of state shall be the secretary of the board of trustees. He shall record in a book to be kept for that purpose the proceedings of the board and the accounts to be furnished by the state treasurer as directed in this chapter. L.…

18A:56-20 School bond legend. 6. a. Bonds issued for school purposes by counties, municipalities or school districts subsequent to the effective date of P.L.1980, c.72 (C.18A:56-17 et seq.) and prior to the effective date of P.L.2003, c.118, shall bear the following legend: "Paym…

18A:56-21. Schools facilities financing reserve 6. a. There is hereby established within the fund for the support of free public schools a school facilities financing reserve, to which shall be credited an amount necessary to secure the principal of and interest on school bonds i…

18A:56-3. Statement of fund by state treasurer to board The state treasurer shall make annually to the board of trustees on the first day of the annual meeting of the legislature, and at such other times as the board shall require, a statement of the school fund, containing an ac…

18A:56-4. Account to legislature of management of fund An account of the management of the fund shall be laid before the legislature with the annual statements of the state treasurer's accounts. No compensation shall be paid to the treasurer for any services under this chapter. L…

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…

18A:56-6. Leases of lands under water; principal or income All leases of lands so dedicated to the support of public schools shall be held by the board of trustees as a part of the principal of the school fund, and the income arising from such leases shall be a part of the income…

18A:56-7. Deducting expenses of administering lands under water The sum appropriated for the expenses incurred in the administration of the lands so dedicated to the support of public schools shall be first deducted by the director of the division of budget and accounting in the …

18A:56-8. Investments Moneys belonging to the school fund shall be invested by the division of investment in the department of the treasury in the bonds of the several school districts of this state, or in the bonds of the United States, this state, or any county or municipality …

18A:56-9. Changing municipal bonds owned by trustees from coupon to registered The trustees for the support of public schools may arrange with any municipality to change any bonds owned by said trustees from coupon to registered bonds, and the municipality which issued the bonds …