New Jersey Gov. Jon Corzine yesterday signed into law $3.9 billion of borrowing to support school construction throughout the state.

Of the large borrowing plan, $2.9 billion will go towards 31 special districts know as Abbott districts, which will help the state meet a court mandate to provide funds for school infrastructure projects in those areas. The state's Schools Development Authority oversees building development in Abbott districts while the New Jersey Economic Development Authority issues school construction bonds on behalf of the SDA.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.