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New Jersey May Borrow $450 Mln to Protect Schools From Guns

  • Borrowing is part of $1 billion sale, including expansion
  • It could boost state’s general-obligation debt by 50 percent
Updated on

New Jersey voters in November may decide to raise $1 billion in the bond market, about half of which would be used to protect schools against shootings.

The borrowing initiative -- which will also fund expansion programs at vocational institutions -- has received widespread support in the legislature, which earlier this month approved putting it on the ballot by a nearly unanimous vote, with just one senator dissenting. Governor Phil Murphy is reviewing the bill and his office declined to say whether he would sign it.