There is a newer version of the Michigan Compiled Laws
2016 Michigan Compiled Laws
Chapter 388 - Schools and School Aid
Act 26 of 1982 EMERGENCY FINANCIAL ASSISTANCE FOR CERTAIN SCHOOL DISTRICTS (388.811 - 388.829)
***** Act 26 of 1982 THIS ACT DOES NOT APPLY AFTER JUNE 30, 1994: See 388.829 *****
AN ACT to provide for emergency financial assistance for certain school districts; to prescribe certain powers and duties of intermediate school boards, local school boards, the state board of education, the state treasurer, and the auditor general; to create an emergency loan revolving fund; to make an appropriation; and to prescribe penalties.
History: 1982, Act 26, Imd. Eff. Mar. 4, 1982
- Section 388.811 Definitions.
- Section 388.812 Procedures.
- Section 388.813 Emergency loan; eligibility criteria; certification; certified audit.
- Section 388.814 Emergency loan; application; recommendation; warrant.
- Section 388.815 Notes; issuance; maturity; interest rate; payment; review and approval of balanced budget; repayment; monthly expenditure report.
- Section 388.816 Expenditures not to exceed revenue; maintaining balanced budget.
- Section 388.817 Reorganization of school district not levying minimum mills; recommendation.
- Section 388.818 Reorganization of school district certified as not able to balance budget; recommendation.
- Section 388.819 Reorganization of school district not balancing budget in following fiscal year; recommendation.
- Section 388.820 Reorganization of school district defaulting in repayment of loan; recommendation.
- Section 388.821 Reorganization of school district; hearing; notice; recommendations.
- Section 388.822 Existence of conditions warranting reorganization of school district; determination; transmitting report with recommendations.
- Section 388.823 Report and recommendations of state committee; publication; objections or comments; consideration of report; determination as to indorsement.
- Section 388.824 Reorganization of school district with 1 or more contiguous districts to provide equitable educational opportunity; effective date; finality.
- Section 388.825 Bonded indebtedness of reorganized school district; territory of school district as assessing unit; board of trustees; officers; refinancing of original bonds; responsibility; certifying and ordering levy of taxes.
- Section 388.826 Assumption and payment of bonded indebtedness; approval of electors; final responsibility; certifying and ordering levy of taxes; holding election.
- Section 388.827 Compliance with MCL 380.1284; removal of board member.
- Section 388.828 School emergency loan revolving fund; creation; purpose; warrant; transfer of repayments to general fund; appropriation.
- Section 388.829 Applicability of loan provisions and act.
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