New Jersey § 18a:72a-12
Full text of New Jersey New Jersey Statutes § 18a:72a-12, with citation guidance and answers to common questions.
§ 18a:72a-12.
a. At any time within one year of the certification by the State Treasurer to the
board of chosen freeholders, the county college at which the capital project is located,
and the authority, pursuant to section 2 of P.L.1971, c. 12 ( C.18A:64A-22.2 ), the board of chosen freeholders is authorized, in lieu of issuing bonds or notes
pursuant to N.J.S.18A:64A-19 , to enter into a loan agreement with the authority for the issuance of bonds or notes
of the authority to fund the county share of the capital project. The county shall issue bonds and notes to the authority which shall be delivered
to the authority to evidence the loan, and which shall be the source of payment for
the bonds or notes issued by the authority to finance the county share of the capital
project. The loan evidenced by the bonds or notes may be made subject to such terms and conditions
as the authority determines to be consistent with the purposes thereof. Each loan by the authority shall be subject to approval by the State Treasurer and
shall be evidenced by notes or bonds issued by the county which shall be authorized
and issued as provided by law for the issuance of notes and bonds by the county. A loan to a county, and the notes, bonds or other obligations thereby issued shall
bear interest at a rate or rates per annum as may be agreed upon by the authority
and the county. b. Any bonds or notes authorized by the county to be issued to the authority or to
another entity for the purpose of funding the county share of a county college capital
project shall be in addition to the sums authorized to be borrowed by the board of
chosen freeholders pursuant to the provisions of N.J.S.18A:64A-19 for the purpose of funding the county's share of capital projects, and the additional
borrowing, if entered into by the county, shall constitute a deduction from the gross
debt of the county and shall not be considered in determining its net debt for debt
incurring purposes.
Frequently Asked Questions About New Jersey § 18a:72a-12
What does New Jersey Statutes § 18a:72a-12 cover?
Section 18a:72a-12 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:72a-12?
A common citation format is "New Jersey Statutes § 18a:72a-12" (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:72a-12 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.