There is a newer version of the Michigan Compiled Laws
2016 Michigan Compiled Laws
Chapter 388 - Schools and School Aid
Act 112 of 1961 STATE LOANS TO SCHOOL DISTRICTS (388.981 - 388.985)
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
- Section 388.981 State loans to school districts; bonds, notes, or commercial paper.
- Section 388.981a Issuance of bonds by state administrative board.
- Section 388.981b 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 Bonds and notes; revised municipal finance act inapplicable; agency financing reporting act applicable.
- Section 388.982 Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.
- Section 388.983 Appropriation for payment of principal and interest on bonds or notes.
- Section 388.984 Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.
- Section 388.985 State loans to school districts; notes.
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