New Jersey § 18a:24-88
Full text of New Jersey New Jersey Statutes § 18a:24-88, with citation guidance and answers to common questions.
§ 18a:24-88.
a. Bonds issued by any school district or municipality pursuant to the provisions
of this act shall be “qualified bonds” and shall be entitled to the benefit of the
provisions of this act. b. Whenever a local board of education or the governing body of a municipality determines
by resolution to issue bonds for the construction, reconstruction, development, extension,
improvement or acquisition of physical facilities, it may file an application with
the commissioner to qualify the bonds pursuant to the provisions of this act. Upon receipt of any such application, the commissioner shall cause an investigation
to be made, taking into consideration such factors as the conditions in the school
district, any applicable educational goals, objectives and standards established by
the State or local board of education, the need for the facilities to be financed
from the proceeds of such proposed qualified bonds, the ability of the school district
or municipality to maintain a thorough and efficient system of education after issuing
qualified bonds, and such other factors as the commissioner may deem necessary. c. If such investigation shows to the satisfaction of the commissioner that such school
district or municipality should be entitled to issue qualified bonds pursuant to the
provisions of this act, he shall so recommend to the State board which may by resolution
determine that such school district or municipality is entitled to issue qualified
bonds. d. At any time within 1 year after the adoption by the State board of the resolution
referred to in subsection c. with respect to a particular issue of bonds, the school
district or municipality may submit to the commissioner a copy of a proposal or ordinance
authorizing the issuance of qualified bonds entitled to the benefits of this act in
accordance with said resolution. The commissioner shall be and is hereby authorized to endorse upon any copy of such
proposal or ordinance a certification thereof as being the proposal or ordinance as
to which a determination of the State board has been made as aforesaid. Such endorsement shall be made in such form or manner as the commissioner shall
determine. If no such proposal or ordinance is submitted within 1 year of the adoption of the
resolution, the resolution shall be of no further force and effect and the commissioner
shall so notify said school district or municipality.
Frequently Asked Questions About New Jersey § 18a:24-88
What does New Jersey Statutes § 18a:24-88 cover?
Section 18a:24-88 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:24-88?
A common citation format is "New Jersey Statutes § 18a:24-88" (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:24-88 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.