2015 New Jersey Revised Statutes
Title 18A - EDUCATION
Section 18A:7G-10 - Issuance of school bonds, certificates of participation, determination of aid.
18A:7G-10 Issuance of school bonds, certificates of participation, determination of aid.
10. For each issuance of school bonds or certificates of participation issued for a school facilities project approved by the commissioner prior to the effective date of P.L.2000, c.72 (C.18A:7G-1 et al.):
Aid is the sum of A
where
A = B x EQAID/AB
and where
B is the district's total debt service or lease purchase payment for the individual issuance for the fiscal year;
EQAID is the district's equalization aid amount determined pursuant to section 11 of P.L.2007, c.260 (C.18A:7G-53); and
AB is the district's adequacy budget determined pursuant to section 9 of P.L.2007, c.260 (C.18A:7F-51).
For county special services school districts, EQAID/AB shall be that of the county vocational school district in the same county.
L.2000, c.72, s.10; amended 2007, c.260, s.43.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
