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Summary: Barnegat Twp Brd of Ed, NJ; Tax Secured, School State Program Jan 04 Product Image

Summary: Barnegat Twp Brd of Ed, NJ; Tax Secured, School State Program Jan 04

  • Published: January 2004
  • Region: New Jersey
  • Standard & Poors

Abstract
The 'AA' rating on Barnegat Township Board of Education, N.J.'s refunding school bonds reflects the additional security provided by the New Jersey Fund for the Support of Free Public Schools. As authorized by the Article VIII, Section 4 of the New Jersey constitution, the fund pledges a portion of its assets for the district's debt service, should it be unable to meet principal and interest payments. The bonds carry a specific contractual relationship between the bondholder and the state fund. The treasurer acts as agent for the fund and, if needed, applies monies from the support fund to purchase maturing principal and interest due from the bondholder; these payments and purchases continue so long as the issuer remains unable to...

Companies mentioned in this report are:
- Barnegat Twp Brd of Ed

Action: New Rating

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- Barnegat Twp Brd of Ed

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