Document - Section 389.127

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Section 389.127
Board of trustees; borrowing money and issuing obligations; purpose; pledging state appropriations; pledging full faith and credit of district; limitations; notes or obligations as first budget obligation; pledge as statutory lien; duties of state treasurer; approval of transactions to insure timely payment of note or obligation; expenses; notes or obligations subject to MCL 141.2101 to 141.2821; form, terms, and sale of notes or obligations; repayment.