§ 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.