N.J. Stat. § 18A:22-44: Payment of amounts raised to custodian; use.

The amounts so raised, levied and collected shall be paid to the board secretary or treasurer of school moneys, as appropriate, for the district as other school moneys are paid and shall be used to pay the principal and interest due upon any notes which may have been issued in anticipation thereof as they severally mature and for the purposes so authorized.

amended 2010, c.39, s.22.