New Jersey § 18a:24-61
Full text of New Jersey New Jersey Statutes § 18a:24-61, with citation guidance and answers to common questions.
§ 18a:24-61.
In considering any refunding bond ordinance presented to it for its consent, the local
finance board shall have regard to the probable capacity of the school district to
pay at maturity the refunding bonds proposed to be issued, and all notes and bonds
and other indebtedness and liabilities of the school district then outstanding, taking
into consideration the assessed and true valuation of taxable property in the school
district, the equitable distribution of the burden of interest and debt redemption
charges in connection with such refunding bonds, and the bonds and notes and other
indebtedness and liabilities theretofore outstanding or which may necessarily thereafter
be incurred. If the local finance board shall refuse to indorse its consent upon any such refunding
bond ordinance, it shall certify to the school district a statement of its reasons
for such refusal.
Frequently Asked Questions About New Jersey § 18a:24-61
What does New Jersey Statutes § 18a:24-61 cover?
Section 18a:24-61 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:24-61?
A common citation format is "New Jersey Statutes § 18a:24-61" (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:24-61 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.