New Jersey § 18a:13-32
Full text of New Jersey New Jersey Statutes § 18a:13-32, with citation guidance and answers to common questions.
§ 18a:13-32.
The board of education of each constituent district from which any purchase of real
property is made pursuant to section 18A:13-31 may expend all or any part of the proceeds of any such sale together with any interest
thereon for any purpose for which bonds might be issued by such district if the board
shall first have been authorized to make such expenditure in the same manner as authority
is given in the case of issuance of bonds of the district and all or any part of the
proceeds of such sale not so expended shall be applied to the payment of the principal
of any outstanding bonds or notes of the district and pending said application shall
be invested in war savings bonds or other obligations of the United States of America
pursuant to law and the income received from such investments shall be applied to
the payment of interest upon said outstanding bonds or notes as it shall become due
and payable and if any surplus of such proceeds remains after the payment of the principal
and interest payable upon said outstanding bonds or notes, the same, or if there be
then no outstanding bonds or notes, the entire proceeds shall be paid into the capital
account of the local school district.
Frequently Asked Questions About New Jersey § 18a:13-32
What does New Jersey Statutes § 18a:13-32 cover?
Section 18a:13-32 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:13-32?
A common citation format is "New Jersey Statutes § 18a:13-32" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:13-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.