New Jersey Statutes
§ 18A:22-42 — Borrowing upon notes in anticipation of taxes
New Jersey·Title 18A EDUCATION
The board of education of any such district may borrow in anticipation of taxes to be raised, levied and collected to provide for said expenditures, or any part thereof, the sum or sums so authorized, upon its promissory notes bearing interest at a rate or rates not to exceed 6% per annum, maturing not later than December 31 of the year in which such taxes shall be raised, levied and collected, and the principal and interest of the notes shall be paid out of the sum so raised not later than the date of maturity of said notes. L.1967, c.271.
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Nearby Sections
15
§ 18A:22-10
Fixing date, etc. for public hearing.§ 18A:22-11. Notice of public hearing
§ 18A:22-11. Notice of public hearing§ 18A:22-12
Contents of notice.§ 18A:22-13
Public hearing; objections; heard, etc.§ 18A:22-15
Appropriations, how made§ 18A:22-16
Resumption of school year appropriations§ 18A:22-19
Determination of local share amount.§ 18A:22-2
Secretary§ 18A:22-20
Capital projects; appropriations; how raised§ 18A:22-23
Additional appropriations; raising.