388.981 State loans to school districts; bonds, notes, or commercial paper. Sec. 1. (1) The people of this state by virtue of the provisions of section 16 of article IX of the state constitution of 1963 having authorized the state to borrow from time to time such amounts as shall be required, pledge its faith […]
388.981a Issuance of bonds by state administrative board. 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 […]
388.981b Security for payment or purchase of bonds, notes, or commercial paper; authorization and approval by state administrative board; authority of state treasurer or deputy treasurer. Sec. 1b. (1) The state administrative board may authorize and approve insurance contracts; agreements for lines of credit; letters of credit; commitments to purchase bonds, notes, or commercial paper; […]
388.981c Bonds and notes; revised municipal finance act inapplicable; agency financing reporting act applicable. Sec. 1c. (1) Bonds and notes issued under this act are not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. (2) The issuance of bonds or notes under this act is subject to the agency […]
388.982 Sale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment. Sec. 2. The proceeds of sale of refunding bonds, notes, or commercial paper issued under this act shall be applied as determined by the state administrative board. The proceeds of sale of bonds, notes, or commercial paper issued under this act for […]
388.983 Appropriation for payment of principal and interest on bonds or notes. Sec. 3. (1) For the prompt payment of the principal and interest upon each bond or note issued under this act, the full faith and credit of the state are pledged, and there is appropriated each year during the life of these bonds […]
388.984 Money repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans. Sec. 4. Any money repaid by school districts on loans made from the school loan revolving fund established under section 16c of the shared credit rating act, 1985 PA 227, MCL 141.1066c, other than […]
388.985 State loans to school districts; notes. Sec. 5. In addition to issuing bonds under section 1 for the purpose of making loans to school districts for the payment of principal and interest on school bonds heretofore or hereafter issued as provided by section 16 of article 9 of the state constitution, and legislation enacted […]
