N.J. Admin. Code § 6A:26-10.2

Current through Register Vol. 56, No. 17, September 3, 2024

Section 6A:26-10.2 - Costs of lease-purchase agreements of five years or less

(a) All payments by a school district and other costs arising from a lease-purchase agreement of five years or less shall not be considered to constitute debt service and shall not be eligible for State debt service aid under EFCFA and/or this chapter.

(b) Payments of lease-purchase agreements of five years or less shall be recorded as an expenditure of the school district's general fund.

Amended by R.2007 d.81, effective 3/19/2007.
See: 38 N.J.R. 4533(a), 39 N.J.R. 899(a).
In (a) and (b), inserted "school" preceding "district".
Amended by R.2013 d.145, effective 12/16/2013.
See: 45 N.J.R. 1026(a), 45 N.J.R. 2557(a).
Section was "Costs of lease purchase agreements of five years or less". In (a) and (b), substituted "lease-purchase" for "lease purchase"; in (a), substituted "and" for ", as well as", and deleted a comma following "less"; and in (b), substituted "school district's general fund" for "General Fund of the school district".