MCL - Act 112 of 1961


STATE LOANS TO SCHOOL DISTRICTS

Act 112 of 1961

AN ACT to authorize and provide for the issuance, sale, and refunding of bonds, notes, or commercial paper of the state; to provide funds for making loans to school districts for payment of principal and interest on certain school bonds; to provide for use of moneys repaid to the state by school districts; and to make an appropriation.


History: 1961, Act 112, Eff. Sept. 8, 1961 ;-- Am. 1991, Act 64, Imd. Eff. July 3, 1991 ;-- Am. 2000, Act 245, Imd. Eff. June 29, 2000




The People of the State of Michigan enact:
Document Type Description
Section 388.981 Section State loans to school districts; bonds, notes, or commercial paper.
Section 388.981a Section Issuance of bonds by state administrative board.
Section 388.981b Section Security for payment or purchase of bonds, notes, or commercial paper; authorization and approval by state administrative board; authority of state treasurer or deputy treasurer.
Section 388.981c Section Bonds and notes; revised municipal finance act inapplicable; agency financing reporting act applicable.
Section 388.982 Section Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.
Section 388.983 Section Appropriation for payment of principal and interest on bonds or notes.
Section 388.984 Section Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.
Section 388.985 Section State loans to school districts; notes.