Sec. 1371.
The treasurer of the board of education shall have custody of money, securities, and other evidences of value belonging or pertaining to the debt retirement fund and shall pay out money of the fund, or transfer the securities or evidences of value therein, only upon the order of a majority of the members elected to and serving on the board, and upon a written order of the president and secretary of the board.
History: 1976, Act 451, Imd. Eff. Jan. 13, 1977 Popular Name: Act 451
Structure Michigan Compiled Laws
Chapter 380 - The Revised School Code
Act 451 of 1976 - The Revised School Code (380.1 - 380.1853)
Article 2 - (380.805...380.1644)
451-1976-2-17 - Part 17 Bonds and Notes (380.1351...380.1372)
Section 380.1351a - Borrowing Money and Issuing Bonds.
Section 380.1351b - Appreciation or Sale at Discount.
Section 380.1352 - Borrowing Money or Issuing Bonds; Contract for Legal Representation.
Section 380.1361 - Bonds; Election; Ballot; Surplusage.
Section 380.1362 - Bonds; Issuance; Conditions Prescribed by School District Board.
Section 380.1364 - Tax for Payment of Principal and Interest.
Section 380.1371 - Debt Retirement Fund; Duties of Treasurer.
Section 380.1372 - Debt Retirement Fund; Record of Moneys; Securities, and Transactions; Reports.