Michigan Compiled Laws
Act 92 of 2005 - School Bond Qualification, Approval, and Loan Act (388.1921 - 388.1939)
Section 388.1931 - Rules; Bulletins.

Sec. 11.
The state treasurer may promulgate rules to implement this act pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, and may issue bulletins as authorized by this act.
History: 2005, Act 92, Imd. Eff. July 20, 2005 ;-- Am. 2012, Act 437, Eff. Mar. 28, 2013

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Structure Michigan Compiled Laws

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.

Section 388.1922 - Purpose of Act.

Section 388.1923 - Definitions.

Section 388.1924 - Qualification of New Bonds; Terms and Conditions Applicable to Outstanding Qualified Bonds; Application for Prequalification.

Section 388.1925 - Preliminary Qualification; Application.

Section 388.1926 - Prequalification of Bonds; Determination by State Treasurer.

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.

Section 388.1928 - Submission of Ballot to Electors; Ballot.

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...

Section 388.1930 - Certificates of Qualification or Approval; File; Delivery.

Section 388.1931 - Rules; Bulletins.

Section 388.1932 - Failure to Apply for Prequalification, Qualification, or Approval of Bond Before Issuance.

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...

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.

Section 388.1935 - Default; Repayment.

Section 388.1936 - Charging and Disposition of Fees.

Section 388.1937 - False Statement or Unauthorized Use of Proceeds; Violation as Felony; Penalty.

Section 388.1938 - Use of Remaining Proceeds.

Section 388.1939 - Actions by Designee.