| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 18A, EDUCATION
Chapter 24:
Section: 18A:24-72: Maturity date
The blanket bond of the issuing board provided for in section 5b of this act shall be for a due date not in excess of that which would provide the maximum borrowing period under applicable law for the particular purpose of the borrowing. The bonds issued to bondholders may be for shorter periods of maturity, and the same may be issued and reissued from time to time but all of the same shall mature and become due and payable on the due date of the blanket bond, unless prior thereto an additional bond issue or issues shall be authorized and new and additional blanket bond or bonds shall be issued, in which case bonds may be issued and reissued to bondholders to mature, in any event, on the last date of any of said bonds.
L.1971, c. 36, s. 7, eff. March 4, 1971.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 18a:24-72 (if available):
Court decisions that cite this statute:
CLICK HERE.