New Jersey § 18a:7g-19
Full text of New Jersey New Jersey Statutes § 18a:7g-19, with citation guidance and answers to common questions.
§ 18a:7g-19.
a. The financing authority may make and contract to make loans to local units in accordance with and
subject to the provisions of this act to finance all or any portion of the cost of
a school facilities project which the local unit may lawfully undertake or acquire
and for which the local unit is authorized by law to borrow money; or to refund obligations
of the local unit which were issued to provide funds to pay for the cost of a school
facilities project. The loans may be made subject to the terms and conditions the financing authority determines to be consistent with the purposes of this act. Each loan by the financing authority and the terms and conditions thereof shall be subject to approval by the
State Treasurer. b. Each loan to a local unit shall be evidenced by local unit obligations and shall
be authorized and issued as provided by law. Notwithstanding the provisions of any other law to the contrary, the local unit
obligations may be sold at private sale to the financing authority at any price, whether or not less than par value, and shall be subject
to redemption prior to maturity at any times and at any prices as the financing authority and the local unit may agree. Each loan to a local unit and the local unit obligations issued to evidence the
loan shall bear interest at a rate or rates per annum, including zero interest, and
shall be repaid in whole or in part, as the financing authority and the local unit may agree, with the approval of the State Treasurer.
Frequently Asked Questions About New Jersey § 18a:7g-19
What does New Jersey Statutes § 18a:7g-19 cover?
Section 18a:7g-19 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:7g-19?
A common citation format is "New Jersey Statutes § 18a:7g-19" (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:7g-19 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.