New Jersey Statutes 18A:24-46. Private sale to public agencies
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Terms Used In New Jersey Statutes 18A:24-46
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- District: means a school district. See New Jersey Statutes 18A:1-1
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
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.