State debt service aid definition

State debt service aid means for school bonds issued for school

State debt service aid means for school bonds issued for school facilities projects approved by the commissioner after the effective date of P.L.2000, c.72 (C.18A:7G-1 et al.) of districts which elect not to have a redevelopment entity construct the project or which elect not to finance the project under section 15 of P.L.2000, c.72 (C.18A:7G-15), the amount of State aid determined pursuant to section 9 of P.L.2000, c.72 (C.18A:7G-9); and for school bonds or certificates of participation issued for school facilities projects approved by the commissioner prior to the effective date of P.L.2000, c.72 (C.18A:7G-1 et al.) the amount of State aid determined pursuant to section 10 of P.L.2000, c.72 (C.18A:7G-10);

State debt service aid means the amount of State aid determined pursuant to N.J.S.A. 18A:7G-9 for school bonds issued for school facilities projects approved by the Commissioner on or after July 18, 2000, in school districts that elect not to have the Development Authority or a redevelopment entity construct the project or that elect not to finance the project under N.J.S.A. 18A:7G-15; and the amount of State aid determined pursuant to N.J.S.A. 18A:7G-10 for school bonds or certificates of participation issued for school facilities projects approved by the Commissioner prior to July 18, 2000.

Examples of State debt service aid in a sentence

• The State debt service aid percentage will equal 40% of the annual debt service due with respect to the final eligible costs of the projects.

• When a project is framed in more than one question, a summary shall be included in the explanatory statement which accompanies the questions that includes the total costs of the project, total State debt service aid, and, if applicable, the amount of the costs of the project which are in addition to the final eligible costs of the project, and any individual question containing costs in addition to the final eligible costs shall include the amount of those additional costs.

• The Government will not consider pages in excess of the page count limitation, as described herein.

• When a school facilities project is framed in more than one question, the explanatory statement accompanying the questions shall include a summary that lists the total costs of the project; the State share or the State debt-service-aid percentage; the final eligible costs of the project; the local share, if applicable; excess costs; and the revenue source for the local share or total costs of a school facilities project receiving State debt service aid.

• For locally constructed school facilities projects for which a school district elects to receive State debt service aid pursuant to N.J.S.A. 18A:7G-9, the school district shall issue bonds only for the amount of the total projects costs minus the insurance proceeds and/or damages award.

• If the district board of education determines to use a combination of school bonds and other revenue sources, the resolution shall also include the portion of the local share or total costs of a school facilities project receiving State debt service aid to be raised through other revenue sources, listing separately each source and the amount from it.

• For locally constructed school facilities projects for which a school district elects to receive State debt service aid pursuant to N.J.S.A. 18A:7G-9, the school district shall issue bonds only for the amount of the total project costs, minus the revenue source.

• The capital project review board shall review the project in accordance with N.J.S.A. 18A:7A-46.2. If the school district determines to use a combination of school bonds and other revenue sources, the question shall also include the portion of the local share or total costs of the school facilities project receiving State debt service aid to be raised through other revenue sources, listing separately each source and the amount from the source.

• Any ROD included in district factor group A or B as of July 18, 2000 may apply to the Commissioner for 100 percent State share of final eligible costs of a school facilities project in the event the school district is having difficulty financing the local share or the total costs of a school facilities project receiving State debt service aid.

• A school district shall not seek approval of the local share or the total costs of a school facilities project receiving State debt service aid through a bond referendum for the school facilities project until the Division has notified the school district of the final eligible costs for the project.

More Definitions of State debt service aid

State debt service aid means for school bonds issued for school facilities projects approved by the commissioner after the effective date of P.L.2000, c.72 (C.18A:7G-1 et al.) of districts which elect not to have the authority or a redevelopment entity construct the project or which elect not to finance the project under section 15 of this act, the amount of State aid determined pursuant to section 9 of this act; and for school bonds or certificates of participation issued for school facilities projects approved by the commissioner prior to the effective date of P.L.2000,