Act
School bond qualification, approval, and loan act
- Mich. Comp. Laws § 388.1921— Short title
- Mich. Comp. Laws § 388.1922— Purpose of act
- Mich. Comp. Laws § 388.1923— Definitions
- Mich. Comp. Laws § 388.1924— Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification
- Mich. Comp. Laws § 388.1925— Preliminary qualification; application
- Mich. Comp. Laws § 388.1926— Prequalification of bonds; determination by state treasurer
- Mich. Comp. Laws § 388.1927— Qualification of bonds; determination by state treasurer; order; specifications; loan agreement; failure to issue bonds within certain time; reapplication; qualification of refunding bonds
- Mich. Comp. Laws § 388.1928— Submission of ballot to electors; ballot
- Mich. Comp. Laws § 388.1929— Amount of borrowing; limitation; payment date for outstanding qualified loans; order; maintenance of separate accounts for each school district; duration of millage levy; amended and restated repayment agreements; waiver of portion of millage levy; findings; interest; final or later mandatory repayment date
- Mich. Comp. Laws § 388.1930— Certificates of qualification or approval; file; delivery
- Mich. Comp. Laws § 388.1931— Rules; bulletins
- Mich. Comp. Laws § 388.1932— Failure to apply for prequalification, qualification, or approval of bond before issuance
- Mich. Comp. Laws § 388.1933— School district owing revolving loan fund; filing annual loan activity application required; borrowing for debt service on qualified bonds; draw request; duties of state treasurer upon receipt of qualified loan confirmation; notification of no need to borrow by school district; invoice for repayment amount; remittance
- Mich. Comp. Laws § 388.1934— Failure of school district to pay principal and interest due on qualified bonds; notice; payment by state treasurer; billing of school district for amount paid; remittance
- Mich. Comp. Laws § 388.1935— Default; repayment
- Mich. Comp. Laws § 388.1936— Charging and disposition of fees
- Mich. Comp. Laws § 388.1937— False statement or unauthorized use of proceeds; violation as felony; penalty
- Mich. Comp. Laws § 388.1938— Use of remaining proceeds
- Mich. Comp. Laws § 388.1939— Actions by designee