Sec. 16.
(1) The state treasurer may charge a prequalification application fee, a qualification application fee, and an annual loan activity fee in the amounts determined by the state treasurer to be required to pay the estimated administrative expenses incurred under this act for the fiscal year in which the state treasurer imposes the fee.
(2) The state treasurer shall deposit all fees collected under this act into a separate fund established within the state treasury, and shall use the proceeds of the fees solely for the purpose of administering and enforcing this act. The unexpended and unobligated balance of this fund at the end of each state fiscal year shall be carried forward over to the succeeding state fiscal year and shall not lapse to the general fund but shall be available for reappropriation for the next state fiscal year.
History: 2005, Act 92, Imd. Eff. July 20, 2005 ;-- Am. 2012, Act 437, Eff. Mar. 28, 2013
Structure 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 388.1925 - Preliminary Qualification; Application.
Section 388.1926 - Prequalification of Bonds; Determination by State Treasurer.
Section 388.1928 - Submission of Ballot to Electors; Ballot.
Section 388.1930 - Certificates of Qualification or Approval; File; Delivery.
Section 388.1931 - Rules; Bulletins.
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.