2010 Michigan Compiled Laws
Chapter 141 - MUNICIPAL FINANCING
Act 72 of 1990 - LOCAL GOVERNMENT FISCAL RESPONSIBILITY ACT (141.1201 - 141.1291)
72-1990-3 - ARTICLE 3 SCHOOL DISTRICT PROVISIONS (141.1231...141.1244)
Section 141.1242 - Revoking declaration of financial emergency; recommendation; resolution.
LOCAL GOVERNMENT FISCAL RESPONSIBILITY ACT (EXCERPT)Act 72 of 1990
141.1242 Revoking declaration of financial emergency; recommendation; resolution.
Sec. 42.
The superintendent of public instruction may determine and certify that the conditions for revoking the declaration of a financial emergency have been met after receiving a recommendation from the emergency financial manager. The emergency financial manager may condition his or her recommendation to the superintendent of public instruction upon the school board's adoption of a resolution that will ensure the adoption of a balanced budget, elimination of any remaining accumulated deficit, and the prevention of additional negative fund balances.
History: 1990, Act 72, Imd. Eff. May 15, 1990
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