The rating on New Jersey Educational Facilities Authority's bonds, issued for New Jersey City University, reflects: * A competitive demand profile, * Solid state support; and * A manageable debt burden. In fiscal 1998, the university's per student state support equaled $7,897, one of the higher levels in the state. Nonetheless, on an absolute basis, the university's state funding rank is only ninth out of twelve state-supported institutions. Other rating factors include a high concentration in part-time students, low student quality indicators, and a drawdown in accumulated fund balances to fund construction projects. Bond proceeds will refund the authority's outstanding series 1992D and 1995A bonds, also issued for Jersey City State College. New Jersey City University is an urban institution,
