Day: August 24, 2020

New Jersey Supreme Court Greenlights State’s Billion Dollar Borrowing Plan

New Jersey Supreme Court Greenlights State’s Billion Dollar Borrowing Plan

New Jersey’s highest court has signed off on the state’s plan to borrow $9.9 billion to address COVID-19-related revenue losses. The New Jersey Supreme Court held in New Jersey Republican State Committee v. Philip D. Murphy (A-82-19/084731) (Decided August 12, 2020) that the State’s plan to issue bonds and borrow