18A:8-40. R.S. 18:5-19
Bonds issued prior to 1903 by consolidated district. Where any school district issued bonds prior to October nineteenth, one thousand nine hundred and three, for the erection of a graded or high school building therein, and at the time of the issuance of the bonds and the erection of the building, the district comprised the territory of two adjoining municipalities the voters of which joined or participated in the election authorizing the issuance of the bonds, and the district was governed as a consolidated district on that date, such school district shall continue to be governed as a consolidated district in the same manner as though the consolidation had been effected in the manner provided by section 18:5-14 of this title, and the bonds so issued shall be deemed to have been and shall continue to be a lien upon the inhabitants and property of the municipalities comprising the school district at the time of the issuance thereof, notwithstanding any other provision of this title.