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NJ voters approve borrowing for college projects

Local News, News | Nov 07, 2012

NJ voters approve borrowing for college projects

New Jersey voters have approved allowing the state to borrow $750 million to pay for new and expanded academic buildings for colleges and universities.  The bond referendum had the backing of prominent Democrats and Republicans, including Gov. Christie.  No formal campaign against it developed, but some critics said that a state already some $33 billion in debt should not borrow more for any purpose.  Schools that receive the money must spend $1 of their own for every $3 they get from the state.

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