MCL - Index of Act 92 of 2005
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| 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 388.1924 | Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification. |
| Section 388.1925 | Preliminary qualification; application. |
| Section 388.1926 | Prequalification of bonds; determination by state treasurer. |
| Section 388.1927 | Qualification of bonds; determination by state treasurer; order; specifications; loan agreement; failure to issue bonds within certain time; reapplication; qualification of refunding bonds. |
| Section 388.1928 | Submission of ballot to electors; ballot. |
| Section 388.1929 | Amount of borrowing; limitation; payment date for outstanding qualified loans; order; maintenance of separate accounts for each school district; duration of millage levy; amended and restated repayment agreements; waiver of portion of millage levy; findings; interest; final or later mandatory repayment date. |
| Section 388.1930 | Certificates of qualification or approval; file; delivery. |
| Section 388.1931 | Rules; bulletins. |
| Section 388.1932 | Failure to apply for prequalification, qualification, or approval of bond before issuance. |
| Section 388.1933 | School district owing revolving loan fund; filing annual loan activity application required; borrowing for debt service on qualified bonds; draw request; duties of state treasurer upon receipt of qualified loan confirmation; notification of no need to borrow by school district; invoice for repayment amount; remittance. |
| Section 388.1934 | Failure of school district to pay principal and interest due on qualified bonds; notice; payment by state treasurer; billing of school district for amount paid; remittance. |
| 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. |
| Section 388.1938 | Use of remaining proceeds. |
| Section 388.1939 | Actions by designee. |