Gov. Jim Florio announced this month that the state would become the latest of several around the nation to use tax-exempt bonds as an incentive for residents to save for college tuition costs.

The zero coupon bonds will be offered in small denominations, and maturities will vary. A $1,000 bond, for example, will be sold at $280 for a 20-year maturity and at $600 for a 10-year maturity, the governor's office explained.

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