New Jersey Statutes
§ 18A:24-2 — Borrowing on tuition due from another district
New Jersey·Title 18A EDUCATION
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 assignment, as collateral, of the delinquent tuition and the tuition so assigned shall, when and as received, be applied to the repayment of the amount borrowed, with the interest, until the same has been fully repaid. L.1967, c.271.
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Nearby Sections
15
§ 18A:24-1
Definitions§ 18A:24-10
School bonds, when deemed to be authorized§ 18A:24-11
Type I districts; authorization of bonds; appropriations and borrowings; procedure to be followed§ 18A:24-11.1
Newark; school bonds; authorization§ 18A:24-11.2. Bond authorization process continued
§ 18A:24-11.2. Bond authorization process continued§ 18A:24-12
Type II districts; authorization of bonds§ 18A:24-13
Combining issues of bonds§ 18A:24-19
School district bonds