reglab/housing_qa huggingface dataset:
NJ Rev Stat § 18A:24-38 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-38 - Contents of notice when proposals are the same

18A:24-38. Contents of notice when proposals are the same  Such notice of sale shall state in substance that as between proposals at the same interest rate, the bonds will be sold to the bidder offering to pay a sum equal to the par value of the bonds offered and to accept therefor the least amount of bonds, the bonds to be accepted being those first maturing, and that if two or more bidders offer to accept the same least amount, then to the bidder or bidders offering to pay therefor the highest additional price. L.1967, c.271.
NJ Rev Stat § 18A:24-39 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-39 - Special provisions for two or more issues.

18A:24-39 Special provisions for two or more issues.  18A:24-39. In case of a sale of more than one issue such notice of sale may, after describing the separate issues, provide in substance for one of the following methods of sale, namely: a. The notice may state the combined maturities of all of said issues and request bids only for such combined maturities as if such combined maturities constituted a single issue, in which event the provisions of sections 18A:24-36 to 18A:24-46 shall apply as though the combined maturities constituted a single issue; or b. The notice may state that bidders may name a single rate, or different rates, of interest for the different issues of bonds included in such sale, but if different rates are permitted, the notice may require a single rate for all the bonds of one issue, and that all issues will be awarded to the bidder on whose bid the total loan may be made at the lowest net interest cost or the true interest cost to the school district. The board of education of the district shall specify in its notice of public sale advertised pursuant to N.J.S.18A:24-37 whether the award shall be based on net interest cost or true interest cost. The net interest cost shall be computed by adding to the total principal amount of the bonds which the bidder offers to accept, the total interest cost to maturity which will be paid under the terms of the bid, after deducting from such interest cost the amount of cash premium, if any bid, which shall not exceed $1,000.00 as to any one issue or the addition thereto of the amount of discount, if any, bid. The true interest cost shall be computed in each instance by determining the interest rate, compounded semi-annually, necessary to discount the debt service payments to the date of the bonds and to the price bid, excluding interest accrued to the delivery date. c. The board of education of the district, by resolution, may allow or otherwise delegate to the school business administrator the authority to permit a bidder to aggregate the consecutive principal maturities for which such bidder bid in the same interest rate into term bonds, provided that mandatory sinking funds for which redemptions in lieu of the principal maturities are provided. For the purposes of this subsection, "term bond" means a bond that is due in a certain year but has mandatory retirement provisions for portions of the term bond on specified dates prior to the maturity date of the term bond itself. L.1967, c.271; amended 2003, c.264, s.4.
NJ Rev Stat § 18A:24-40 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-40 - Cash premium not to exceed $1,000.00

18A:24-40. Cash premium not to exceed $1,000.00  The price for which bonds of any one issue of a type II district shall be sold shall not exceed by more than $1,000.00 the par value of the bonds of such issue offered for sale. In order that the amount bid at such sale shall not exceed such price, a sufficient number of the last maturing bonds shall be of the denomination of $1,000.00 or less. L.1967, c.271.
NJ Rev Stat § 18A:24-41 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-41 - Deposit by bidders.

18A:24-41 Deposit by bidders.  18A:24-41. a. The notice of sale shall require all bidders to deposit a certified or cashier's or treasurer's check for 2% of the amount of bonds, drawn upon a bank or trust company for said amount, partially to secure the school district from any loss resulting from the failure of the bidder to comply with the terms of his bid, or as liquidated damages for such failure. b. The State Board of Education, in consultation with the Local Finance Board in the Department of Community Affairs, may adopt rules and regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to permit school districts to accept a financial surety bond in lieu of a certified, cashier's or treasurer's check as required in subsection a. of this section. L.1967, c.271; amended 2003, c.264, s.5.
NJ Rev Stat § 18A:24-42 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-42 - Sealed bids, proposals opened publicly.

18A:24-42 Sealed bids, proposals opened publicly.  18A:24-42. All sealed bids or proposals shall be opened publicly and all bids or proposals transmitted electronically shall be received at the time and place stated in such notice of sale, and not before, and shall be publicly announced, except upon a postponement and recommencement of the public sale made in accordance with the provisions of subsection c. of N.J.S.18A:24-36, in which case such bids or proposals shall be publicly opened, received and announced, as appropriate, at the postponed and recommenced date. L.1967, c.271; amended 2003, c.264, s.6.
NJ Rev Stat § 18A:24-43 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-43 - Rejection of proposals

18A:24-43. Rejection of proposals  All bids received may be rejected, and any bid not complying with the terms of such notice may be rejected. L.1967, c.271.
NJ Rev Stat § 18A:24-44 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-44 - Sale or delivery in installments

18A:24-44. Sale or delivery in installments  An issue of a type II district may be sold at one time or in installments at different times. In the case of bonds sold in installments the maturities offered for sale, combined with maturities, if any, previously sold, shall be such as to comply with the requirements of this chapter in accordance with which the maturities of the entire issue were determined. Any unsold part of an issue or installment may be reoffered, or may be offered, and sold, notwithstanding the fact that the maturities, when considered alone, do not comply with the provisions of this chapter. L.1967, c.271.
NJ Rev Stat § 18A:24-45 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-45 - Private sale if no bids at public sale

18A:24-45. Private sale if no bids at public sale  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. L.1967, c.271.
NJ Rev Stat § 18A:24-46 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-46 - Private sale to public agencies

18A:24-46. Private sale to public agencies  Notwithstanding any provisions of this or any other law any such bonds of a type II school district may be sold at not less than their par value and accrued interest, without any previous public offering, to, and be purchased by, the trustees of the school fund, the board of trustees of the teachers' pension and annuity fund or to any board, body or official of the state, authorized to purchase such bonds. L.1967, c.271.
NJ Rev Stat § 18A:24-47 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-47 - Payment to custodian; application

18A:24-47. Payment to custodian; application  The proceeds of any bonds authorized and issued under this chapter shall be paid to the custodian of school moneys of the district, who shall, in no event, disburse them except to pay the expenses of issuing and selling the bonds and for the purpose or purposes for which the bonds were issued and for temporary investment as and in the manner prescribed by law, pending the carrying out of the purpose or purposes for which the bonds were issued and for such other purpose or purposes as are prescribed in this article. L.1967, c.271.
NJ Rev Stat § 18A:24-48 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-48 - Application of proceeds to new purpose; in districts having boards of school estimate; certification by boards of education

18A:24-48. Application of proceeds to new purpose; in districts having boards of school estimate; certification by boards of education  If the board of education of any school district having a board of school estimate shall determine, by resolution, that all or any part of the proceeds of bonds issued for school purposes of the district are not necessary for the purpose or purposes for which the bonds were issued and that such proceeds are required for any other purpose or purposes for which bonds could be issued pursuant to this chapter, it shall prepare and deliver to each member of the board of school estimate of the district a statement of such other purpose or purposes out of the amount of such proceeds estimated to be necessary for such other purpose or purposes, itemizing the same so as to make it readily understandable. No such statement shall be delivered to the members of, or be acted upon by, the board of school estimate of a type II district unless the proceeds of said bonds have been on hand not less than one year and not more than six years after the time of issuance or sale of such bonds, nor shall such a statement be so delivered if any of such bonds mature beyond the periods prescribed by section 18A:24-5 with respect to such other purpose or purposes (computed from the date of the submission of such certificate) unless prior thereto the commissioner shall endorse upon a certified copy thereof his consent to the issuance of such statement, based upon his written estimate made pursuant to the provisions of section 18A:24-52. L.1967, c.271.
NJ Rev Stat § 18A:24-49 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-49 - Application of proceeds to new purpose in type I district; determination by board of school estimate

18A:24-49. Application of proceeds to new purpose in type I district; determination by board of school estimate  The board of school estimate of a type I school district, upon receipt of such statement, shall fix and determine the amount of such proceeds necessary for such other purpose or purposes and shall certify the same to the board of education of the district and to the governing body of the municipality comprising the district, whereupon such proceeds, to the amount so fixed and determined by the board of school estimate, may be used for such other purpose or purposes. L.1967, c.271.
NJ Rev Stat § 18A:24-50 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-50 - New purpose; determination by board of school estimate in type II districts

18A:24-50. New purpose; determination by board of school estimate in type II districts  The board of education of a type II school district having a board of school estimate shall, upon certification of such statement, fix a date, place and time for the holding of a public hearing by the board of school estimate with respect to the amount of such proceeds to be used for such other purpose or purposes, which date shall be fixed and notice thereof published and which hearing by the board of school estimate shall be held in the manner provided in sections 18A:22-28 and 18A:22-29 with respect to the amount of money to be raised by the issuance of bonds, and the board of school estimate shall, at or after said hearing, fix and determine the amount of such proceeds to be used for such other purpose or purposes and shall certify the same to the board of education of the district and to the governing body of each municipality comprised within the district, whereupon such proceeds to the amount so fixed and determined by the board of school estimate, may be used for such other purpose or purposes. L.1967, c.271.
NJ Rev Stat § 18A:24-51 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-51 - New purpose; submission to voters in type II districts having no boards of school estimate

18A:24-51. New purpose; submission to voters in type II districts having no boards of school estimate  If the board of education shall determine, by resolution, that all or any part of the proceeds of school bonds, issued for a type II school district not having a board of school estimate, on hand one year or longer after the time of issuance or sale of such bonds, are not necessary for the purpose or purposes for which the bonds were issued and that such proceeds are required for any other purpose or purposes for which bonds could be issued pursuant to this chapter, said board shall frame a question to be submitted to the legal voters of the district which shall state such other purpose or purposes, the amount of such proceeds to be expended for such other purpose or purposes and the source of such proceeds and such question shall be submitted to the legal voters of the district at an annual or special school election held not more than six years after the time of issuance or sale of such bonds, which election shall be called and held, and the result thereof ascertained, recorded and made known in the manner provided with respect to authorization of the issuance of school bonds of the district, but if any of such bonds mature beyond the period prescribed by section 18A:24-5 with respect to such other purpose or purposes (computed from the date of such annual or special election), such question shall not be submitted to the legal voters unless prior thereto the commissioner shall endorse, upon a certified copy thereof, his consent to the submission thereof as prescribed in this article. L.1967, c.271.
NJ Rev Stat § 18A:24-52 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-52 - Approval of submission by commissioner

18A:24-52. Approval of submission by commissioner  The commissioner shall so endorse his consent to the submission of such question to the legal voters of the district, if he shall determine in writing his estimate: (a) either that application of such proceeds to the purpose or purposes for which the bonds were issued will not satisfactorily carry out said purpose or purposes or that such purpose or purposes have been carried out; and, if such bonds were issued pursuant to a resolution upon which the commissioner endorsed his consent in accordance with section 18A:24-23, that (b) the carrying out of such other purpose or purposes is necessary in order to provide educational facilities in the district which are, or, within five years, will be, needed in the district. If the commissioner shall not so determine, he shall endorse his disapproval on such certified copy. L.1967, c.271.
NJ Rev Stat § 18A:24-53 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-53 - Approval by voters

18A:24-53. Approval by voters  If at such election the question shall be adopted by the legal voters of the district, such proceeds may be used for such other purpose or purposes. L.1967, c.271.
NJ Rev Stat § 18A:24-54 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-54 - Transfer of remaining unapplied balance

18A:24-54. Transfer of remaining unapplied balance  18A:24-54. If all or any part of the proceeds of any bonds authorized and issued under this chapter for any school district are not applied to or necessary for the purpose or purposes for which the bonds were issued or for any other purpose or purposes authorized pursuant to this article, the board of education of the district may transfer the balance remaining unapplied to the general fund or the debt service fund of the district.  L.1967, c.271; amended 1993,c.83,s.17.
NJ Rev Stat § 18A:24-55 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-55 - Contracts made before issuance of bonds

18A:24-55. Contracts made before issuance of bonds  18A:24-55. After school bonds have been authorized in accordance with this chapter, the board of education may, within the amount and for the purposes of such authorization, make contracts notwithstanding that the moneys to be raised therefor by the issuance of such bonds, or notes or temporary loan bonds in anticipation thereof, are not in hand.  L.1967, c.271; amended 1993,c.146,s.3.
NJ Rev Stat § 18A:24-56 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-56 - Lien of bonds of type II district

18A:24-56. Lien of bonds of type II district  Obligations of a type II school district, issued pursuant to this chapter, shall be a lien upon the real estate situate in the district, the personal estates of the inhabitants of the district and the property of the district, and such estates and property shall be liable for the payment thereof. L.1967, c.271.
NJ Rev Stat § 18A:24-57 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-57 - Payment of interest and principal from taxes

18A:24-57. Payment of interest and principal from taxes  The amount of interest upon any obligation issued for school purposes, and of any part of the principal thereof not provided to be paid in any other manner, falling due in any one year shall be: 1. Certified to the governing body of each municipality comprising a type I district by the clerk of the municipality for inclusion in the budget of the municipality and shall be included in the annual tax levy and shall be raised by taxation in the municipality; or 2. Included in the budget of each type II district for such year and shall be separately certified by the secretary of the board of education to the county board of taxation of the county and in each district consisting of but one municipality, the whole amount thereof shall be raised by special tax in the district and in each district composed of more than one municipality, the amount apportioned to such municipality according to law shall be raised by special tax in the municipality. L.1967, c.271.
NJ Rev Stat § 18A:24-58 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-58 - Borrowing to pay principal and interest

18A:24-58. Borrowing to pay principal and interest  If funds are not available to pay the principal or interest falling due on any obligation of a type II district, in full or in part, for the reason that no such certified statement or an incorrect statement was transmitted to the county board of taxation, the board of education of the district shall execute and deliver promissory notes for the amount thereof not so certified and pay the amount so borrowed together with interest thereon at a rate not exceeding 6% per annum, and any such amount so borrowed together with interest shall be included in the next ensuing certified statement to the county board of taxation. L.1967, c.271.
NJ Rev Stat § 18A:24-59 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-59 - Disposition of funds for payment of principal and interest on obligations.

18A:24-59 Disposition of funds for payment of principal and interest on obligations.  18A:24-59. All moneys received for payment of principal and interest of obligations of a type II school district payable in any year shall be paid to the secretary or treasurer of school moneys of the district, as appropriate, who shall deposit them in such bank as shall be determined by resolution by the board, in order to provide for the payment thereof. amended 1981, c.174, s.17; 2010, c.39, s.23.
NJ Rev Stat § 18A:24-60 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-60 - Cancellation and disposition of paid obligations

18A:24-60. Cancellation and disposition of paid obligations  On the taking up or payment of outstanding obligations of a Type II district the board of education of the district shall cancel the same and hold them for inspection by the public school accountant. After such inspection they may be destroyed as authorized by the Bureau of Archives and History, Division of the State Library, Archives and History, State Department of Education. L.1967, c.271; amended by L.1971, c. 440, s. 1, eff. July 1, 1971.
NJ Rev Stat § 18A:24-61 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-61 - Renewal or refunding of obligations prohibited; exceptions

18A:24-61. Renewal or refunding of obligations prohibited; exceptions  No obligations issued after July 1, 1917 for school purposes shall be renewed or refunded, except such as are authorized by law to be renewed or refunded and except temporary loan bonds issued or to be issued in anticipation of the sale of permanent bonds pursuant to this chapter or to Title 18 of the Revised Statutes but this section shall not invalidate any bonds heretofore renewed or refunded pursuant to law. L.1967, c.271.
NJ Rev Stat § 18A:24-61.1 (2021)
2021 New Jersey Revised Statutes|Title 18A - Education|Section 18A:24-61.1 - Funding or refunding bonds at or prior to maturity

18A:24-61.1. Funding or refunding bonds at or prior to maturity  Any bonds heretofore or hereafter issued (a) by any county to meet or finance any county college appropriation or purpose or any county vocational school appropriation or purpose, or (b) by any municipality to meet or finance any school district appropriation or purpose, or (c) by any school district which at the time of issuance of such bonds was governed by the provisions of chapter 7 or of chapter 8 of Title 18, Education, of the Revised Statutes or constituted a Type II school district under the provisions of this Title, may be funded or refunded at or prior to the maturity of such bonds as herein provided by issuance of bonds (herein called the "refunding bonds" ). Such refunding bonds may be issued in any amount deemed necessary by the governing body of the county or municipality and, in the case of a Type II School District, the Board of Education thereof, and approved by the Local Finance Board. L.1969, c. 130, s. 1, eff. July 2, 1969. Amended by L.1978, c. 75, s. 1, eff. July 13, 1978.