Title 18A, Title 18A: EDUCATION

18A:24-1. Definitions In this chapter unless the context otherwise indicates: a. "Average equalized valuation of taxable property" in a district comprising one municipality means the amount stated in the supplemental debt statement required to be filed prior to the authorization …

18A:24-10. School bonds, when deemed to be authorized School bonds are deemed to be authorized by the fact, and at the time, that a. an ordinance is finally adopted by the governing body of a municipality comprised within a type I district, or b. a proposal is finally adopted by …

18A:24-11. Type I districts; authorization of bonds; appropriations and borrowings; procedure to be followed School bonds shall be authorized and may be issued, for the purposes of any type I district, pursuant to ordinance, adopted by the governing body of the municipality compr…

18A:24-11.1. Newark; school bonds; authorization In cities of the first class with a population in excess of 300,000, according to the 1980 Federal Census, that change the local school district governmental structure from a Type I to a Type II district, any bond authorization pro…

18A:24-11.2. Bond authorization process continued In municipalities with a population in excess of 125,000 according to the 1980 Federal Census, that change the local school district governmental structure from a Type I to a Type II district, any bond authorization process begun,…

18A:24-12. Type II districts; authorization of bonds School bonds shall be authorized and may be issued: a. by a type II district having a board of school estimate whenever the board of school estimate shall fix and determine the amount of money necessary to be raised for any cap…

18A:24-12.1 Type II school district without a board of school estimate, bonds, repairs to school facilities, furnishings, equipment, natural disasters, deemed necessary. 1. a. Notwithstanding the provisions of N.J.S.18A:24-10 or any other law, rule, or regulation to the contrary,…

18A:24-13. Combining issues of bonds Bonds authorized in any district to be issued to finance separate projects may be combined, sold and issued as one issue. L.1967, c.271.

18A:24-13.1. Attorneys; compensation; services on issuance of bonds No school district shall compensate an attorney for services rendered in connection with the issuance of bonds other than at a reasonable rate agreed on prior to the rendering of the services. L.1973, c. 114, s. …

18A:24-16 Supplemental debt statements; necessity for and contents. 18A:24-16. No school bonds or refunding bonds shall be authorized unless there shall be prepared and filed in accordance with section 18A:24-17 a supplemental debt statement in the form provided by law, setting f…

18A:24-17. Supplemental debt statement; preparation with respect to various municipalities; filing Upon request by the secretary of the board of education, the chief financial officer of each municipality comprising a school district shall prepare a supplemental debt statement wi…

18A:24-18. Presumption of filing and correctness of statements 18A:24-18. Every such supplemental debt statement shall be conclusively presumed to be accurate and correct and to be timely filed as the basis for the issuance of any bond or other obligation, authorized, within the …

18A:24-19. School district bonds Except as otherwise provided in sections 18A:24-20 to 18A:24-27, no bonds shall be authorized for the purposes of any school district if the principal amount thereof shall, when added to the net school debt of the district exceed the percentage of…

18A:24-2. Borrowing on tuition due from another district Any board of education may borrow upon its promissory note or notes bearing interest at not to exceed 6% per annum such sum or sums not exceeding 80% of the amount due it for tuition from any school district and upon assign…

18A:24-20. Authorization of bonds in excess of limits prescribed in section 18A:24-19; exception of type I districts School bonds may be authorized and issued in the manner prescribed in section 18A:24-21, notwithstanding the provisions of section 18A:24-19, by, or for the purpos…

18A:24-21. Manner of authorization of bonds in excess of certain limitations Such bonds shall be authorized and may be issued: a. for the purposes of a type I district, when-- (1) an ordinance authorizing the issuance of said bonds which shall conform with the provisions of secti…

18A:24-22. Form of ordinance, proposition for confirmation of ordinance or proposal for issuance of bonds under sections 18A:24-20 and 18A:24-21 Every ordinance, and every proposition confirming an ordinance, and every proposal, authorizing the issuance of bonds under sections 18…

18A:24-23. Authorization of bonds in excess of limitations prescribed by section 18A:24-19 School bonds may be authorized and issued notwithstanding the provisions of section 18A:24-19: a. For the purposes of a Type I district, when an ordinance, authorizing the issuance of such …

18A:24-24. Form of ordinance, proposition for confirmation of ordinance or proposal for issuance of bonds under section 18A:24-23 Every ordinance, and every proposition confirming an ordinance, and every proposal, authorizing the issuance of bonds under section 18A:24-23, except …

18A:24-25. Submission to commissioner and local finance board; limiting conditions A copy of any ordinance or proposal authorizing the issuance of any school bonds under section 18A:24-23 shall be submitted to the commissioner and the local finance board, for their consideration,…

18A:24-26. Approval or disapproval by commissioner Within 60 days after such submission to him, the commissioner shall endorse his consent upon such copy, if he shall be satisfied, and shall record in writing his estimates, that existing educational facilities in the district are…

18A:24-27. Approval or disapproval by local finance board Within 60 days after such submission to it, the local finance board shall cause its consent to be endorsed upon such copy, if it shall be satisfied, and shall record by resolution, its estimates that the amounts to be expe…

18A:24-27.1. Authorization to commissioner to certify required grade levels of instruction For any purpose under the provisions of this title, or of the local bond law, the commissioner is authorized and empowered to certify, or to cause to be certified, the grade level of instru…

18A:24-28. Charter limitations on indebtedness inapplicable If the charter of any municipality shall limit the amount of indebtedness in such municipality, or by its terms prevent the carrying out of the provisions of this chapter, the charter provisions shall be held not to appl…

18A:24-28.1 1964, c. 73, s. 8 (C. 18:5-84.2) 8. Proceedings for the authorization of bonds by any school district initiated by adoption of a resolution of the board of education of the school district calling a special school district meeting or election, or initiated by endorsem…

18A:24-29. Issuance of bonds; ordinance, submission to voters 18A:24-29. A proposal for the confirmation of any ordinance, required by this article to be approved by the qualified voters of the municipality comprised within a district, shall be submitted to such voters at a gener…

18A:24-3. Borrowing in anticipation of issuance of bonds Whenever an issue of bonds has been authorized pursuant to this chapter, the governing body of a municipality comprising a Type I school district, or the board of education of a Type II school district, may, in anticipation…

18A:24-3.1. Rules and regulations The local finance board shall adopt, in the manner prescribed by law, such rules and regulations as are necessary for the implementation and execution of this act. L.1969, c. 20, s. 2, eff. April 16, 1969.

18A:24-30. Transmission of certified copy of bond proposal 18A:24-30. Whenever bonds are authorized to be issued by a type II school district under this chapter, the secretary of the board of education of the district shall transmit to the commissioner a certified copy of the bon…

18A:24-31. Form; type I districts All bonds of a type I school district, issued in accordance with this chapter, shall be designated "school bonds" and shall be in either registered or coupon form, or both, and of such denomination as the governing body of the municipality, compr…

18A:24-32. Form and execution; type II districts All obligations of a type II school district, issued in accordance with this chapter, shall be issued in the corporate name of the district and shall be executed by the manual or facsimile signature of the president or vice preside…

18A:24-33. Coupon and registered bonds; conversion, etc. Bonds, other than temporary loan bonds, of a type II school district, issued in accordance with this chapter, may be in either registered or coupon form and if in coupon form may contain provision for registration as to pri…

18A:24-34. Conversion or reconversion of unmatured bonds; lost, defaced or destroyed bonds; reissuance The provisions of this section shall apply to all unmatured bonds (other than temporary loan bonds) heretofore or hereafter issued by the board of education of any school distri…

18A:24-35. Type I districts Bonds of a type I school district, authorized and issued in accordance with this chapter, shall be sold in the same manner as other municipal bonds are sold, as provided in chapter 2 of Title 40A, Municipalities and Counties, of the New Jersey Statutes…

18A:24-36 Public sale of bonds. 18A:24-36. a. All bonds authorized and issued by type II school districts in accordance with chapter 24 of Title 18A of the New Jersey Statutes, except bonds of authorized issues of $1,000,000 or less, shall be sold at public sale upon the submissi…

18A:24-37 Notice of sale of bonds. 18A:24-37. a. The notice of sale of Type II school district bonds required to be advertised pursuant to N.J.S.18A:24-36 shall describe the bonds and set forth in substance the postponement provisions and the other terms and conditions of sale, i…

18A:24-38. Contents of notice when proposals are the same Such notice of sale shall state in substance that as between proposals at the same interest rate, the bonds will be sold to the bidder offering to pay a sum equal to the par value of the bonds offered and to accept therefo…

18A:24-39 Special provisions for two or more issues. 18A:24-39. In case of a sale of more than one issue such notice of sale may, after describing the separate issues, provide in substance for one of the following methods of sale, namely: a. The notice may state the combined matu…

18A:24-4. Payment of principal of temporary bonds from proceeds of permanent bonds The principal of any temporary notes or loan bonds shall be paid from the proceeds of the permanent bonds, in anticipation of the issuance of which they were issued, or from funds from time to time…

18A:24-4.1 1967, c. 75 1. Whenever it shall be determined that it is necessary to raise in any school district, additional sums of money, over and above the amount fixed and determined in the annual school budget of the 1967-68 fiscal year for the transportation of children to an…

18A:24-40. Cash premium not to exceed $1,000.00 The price for which bonds of any one issue of a type II district shall be sold shall not exceed by more than $1,000.00 the par value of the bonds of such issue offered for sale. In order that the amount bid at such sale shall not ex…

18A:24-41 Deposit by bidders. 18A:24-41. a. The notice of sale shall require all bidders to deposit a certified or cashier's or treasurer's check for 2% of the amount of bonds, drawn upon a bank or trust company for said amount, partially to secure the school district from any lo…

18A:24-42 Sealed bids, proposals opened publicly. 18A:24-42. All sealed bids or proposals shall be opened publicly and all bids or proposals transmitted electronically shall be received at the time and place stated in such notice of sale, and not before, and shall be publicly ann…

18A:24-43. Rejection of proposals All bids received may be rejected, and any bid not complying with the terms of such notice may be rejected. L.1967, c.271.

18A:24-44. Sale or delivery in installments An issue of a type II district may be sold at one time or in installments at different times. In the case of bonds sold in installments the maturities offered for sale, combined with maturities, if any, previously sold, shall be such as…

18A:24-45. Private sale if no bids at public sale If no legally acceptable bid is received for the bonds of a type II district advertised to be sold at public sale, said bonds or any of them may be sold without further advertisement at private sale within 30 days after the advert…