From the department of "What, me worry?"
Press release from the New Jersey Association of School Business Officials, 4/17/10:
GOVERNOR CHRIS CHRISTIE ANNOUNCES SCHOOL CONSTRUCTION FUNDING
Trenton, NJ -- Governor Christie announced today that schools construction projects in school districts across New Jersey will soon begin to receive funding for projects following approval for the sale of $500 million in new bonds by the Board of Directors for the New Jersey Economic Development Authority.
The New Jersey Schools Development Authority (SDA) will use proceeds from the bonds toward school facilities projects in SDA Districts and continue the SDA grant program for Regular Operating Districts (RODs). These state-funded ROD grants represent at least 40 percent of costs for projects in non-Abbott districts, addressing health and safety issues, student overcrowding and other critical needs. Local districts fund the remainder.
"It is important for these school projects to move forward with state financial support," said Governor Christie. "My administration is committed to providing exemplary educational facilities for our students in all school districts across New Jersey. The sale of these bonds is a fiscally responsible way to continue to address the school-construction needs of New Jersey's public schools."
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