18A:7G-10 Issuance of school bonds, certificates of participation, determination of aid.
124 words·~1 min read·
/nj/title-18a/chapter-7g/18a-7g-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
10. For each issuance of school bonds or certificates of participation issued for a school facilities project approved by the commissioner prior to the effective date of P.L.2000, c.72 (C.18A:7G-1 et al.):
Aid is the sum of A
where
A = B x EQAID/AB
and where
B is the district's total debt service or lease purchase payment for the individual issuance for the fiscal year;
EQAID is the district's equalization aid amount determined pursuant to section 11 of P.L.2007, c.260 (C.18A:7G-53); and
AB is the district's adequacy budget determined pursuant to section 9 of P.L.2007, c.260 (C.18A:7F-51).
For county special services school districts, EQAID/AB shall be that of the county vocational school district in the same county.
L.2000, c.72, s.10; amended 2007, c.260, s.43.