NJ S3731

Extends the maximum duration for fire district bond anticipation notes from 3 years to 10 years following the original note issuance date in New Jersey

Fire districts may continue issuing one-year renewable notes, with each renewal period not exceeding one year

Requires fire districts to pay and retire an amount equal to at least the first legally payable bond installment on each anniversary date beyond which notes are renewed

Notes must mature and be paid no later than the first day of the fifth month following the close of the tenth fiscal year after the original notes were issued

Eliminates the need for fire districts to issue long-term bonds or enter lease purchase agreements for capital projects extending beyond three years