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Credit: Chronis Yan on Unsplash File photo Gov. Phil Murphy’s administration is finalizing the sale of $400 million in state general-obligation bonds, debt that will finance school, library and environmental projects already approved by voters. Under terms of the bond sale reviewed by administration officials on Thursday, the debt is being issued this month with a 20-year maturity and a true interest cost of just over 2%. “We are encouraged by the strong demand investors continue to show for New Jersey paper as evidenced by the low true interest cost we received and the number of parties that bid, which is a sign of the faith investors have in the state’s credit,” said Treasurer Elizabeth Maher Muoio. ....