Sec. 17.
A person who knowingly makes a false statement or conceals material information for the purpose of obtaining qualification of a bond issue under this act or for the purpose of obtaining a qualified loan under this act, or who knowingly uses all or part of the proceeds of a qualified loan obtained under this act for any purpose not authorized by this act, is guilty of a felony punishable by imprisonment for not more than 4 years or a fine of not more than $5,000.00, or both.
History: 2005, Act 92, Imd. Eff. July 20, 2005
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.