Michigan Compiled Laws
Chapter 388 - Schools and School Aid
Act 92 of 2005 - School Bond Qualification, Approval, and Loan Act (388.1921 - 388.1939)

Section 388.1921 - Short Title. - Sec. 1. This act shall be known and may be...

Section 388.1922 - Purpose of Act. - Sec. 2. The purpose of this act is to implement...

Section 388.1923 - Definitions. - Sec. 3. As used in this act: (a) "Computed millage"...

Section 388.1924 - Qualification of New Bonds; Terms and Conditions Applicable to Outstanding Qualified Bonds; Application for Prequalification. - Sec. 4. (1) A school district may issue and market...

Section 388.1925 - Preliminary Qualification; Application. - Sec. 5. (1) A school district may apply to the...

Section 388.1926 - Prequalification of Bonds; Determination by State Treasurer. - Sec. 6. The state treasurer shall prequalify bonds of a...

Section 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. - Sec. 7. (1) The state treasurer shall qualify bonds of...

Section 388.1928 - Submission of Ballot to Electors; Ballot. - Sec. 8. A ballot submitted to the school electors of...

Section 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... - Sec. 9. (1) Except as otherwise provided in this act,...

Section 388.1930 - Certificates of Qualification or Approval; File; Delivery. - Sec. 10. The state treasurer shall keep all certificates of...

Section 388.1931 - Rules; Bulletins. - Sec. 11. The state treasurer may promulgate rules to implement...

Section 388.1932 - Failure to Apply for Prequalification, Qualification, or Approval of Bond Before Issuance. - Sec. 12. If a school district does not apply for...

Section 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; Notifi... - Sec. 13. (1) If a school district owes a balance...

Section 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. - Sec. 14. (1) If any paying agent for a school...

Section 388.1935 - Default; Repayment. - Sec. 15. (1) If a school district that owes this...

Section 388.1936 - Charging and Disposition of Fees. - Sec. 16. (1) The state treasurer may charge a prequalification...

Section 388.1937 - False Statement or Unauthorized Use of Proceeds; Violation as Felony; Penalty. - Sec. 17. A person who knowingly makes a false statement...

Section 388.1938 - Use of Remaining Proceeds. - Sec. 18. If a school district has completed the projects...

Section 388.1939 - Actions by Designee. - Sec. 19. The state treasurer may designate in writing a...