New Jersey § 18a:24-45
Full text of New Jersey New Jersey Statutes § 18a:24-45, with citation guidance and answers to common questions.
§ 18a:24-45.
If no legally acceptable bid is received for the bonds of a type II district advertised
to be sold at public sale, said bonds or any of them may be sold without further advertisement
at private sale within 30 days after the advertised date for public bidding; provided,
however, that-- a. Said bonds shall not bear interest at a rate which is higher than the rate or maximum
rate specified in the notice of sale, nor contain substantially different provisions
from those specified in said notice; b. Each block of bonds sold shall, considered together with any previous blocks sold,
comply with the same provisions of law restricting maturities as apply to the entire
issue; and c. Any such sale or sales shall be made or confirmed within said 30 days by resolution
of the board of education of the district adopted by the recorded roll call affirmative
vote of two thirds of its full membership. Such resolution shall set forth the date, maturities, interest rate and price of the
bonds, and the name of the purchaser. Unless said bonds shall be sold to a board or other public body as provided in section 18A:24-46 , the purchaser of bonds at private sale shall be required to deposit, with his bid,
a certified or cashier's or treasurer's check, drawn upon a bank or trust company
in an amount equal to 5% of the amount of bonds bid for, to be applied in accordance
with the provisions of section 18A:24-41 .
Frequently Asked Questions About New Jersey § 18a:24-45
What does New Jersey Statutes § 18a:24-45 cover?
Section 18a:24-45 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:24-45?
A common citation format is "New Jersey Statutes § 18a:24-45" (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:24-45 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.