2006 Michigan Compiled Laws - Act 112 of 1961


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:

Section 388.981State loans to school districts; bonds, notes, or commercial paper.
Section 388.981aIssuance of bonds by state administrative board.
Section 388.981bSecurity 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 388.981cBonds and notes; revised municipal finance act inapplicable; agency financing reporting act applicable.
Section 388.982School loan revolving fund; disposition of proceeds payment.
Section 388.983Appropriation for payment of principal and interest on bonds or notes.
Section 388.984Money repaid by school districts on loans from school loan revolving fund; deposit; exception.
Section 388.985State loans to school districts; notes.

Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.