Sec. 1a.
The state administrative board may issue bonds, notes, or commercial paper to refund bonds, notes, or commercial paper issued under this act by the issuance of new bonds, notes, or commercial paper, whether or not the bonds, notes, or commercial paper to be refunded have matured or are subject to prior redemption. The state administrative board may issue bonds, notes, or commercial paper partly to refund bonds, notes, or commercial paper issued under this act and partly for any other purpose provided by this act.
History: Add. 2000, Act 245, Imd. Eff. June 29, 2000
Structure Michigan Compiled Laws
Chapter 388 - Schools and School Aid
Act 112 of 1961 - State Loans to School Districts (388.981 - 388.985)
Section 388.981 - State Loans to School Districts; Bonds, Notes, or Commercial Paper.
Section 388.981a - Issuance of Bonds by State Administrative Board.
Section 388.983 - Appropriation for Payment of Principal and Interest on Bonds or Notes.