HOUSE BILL No. 5753 April 22, 1998, Introduced by Reps. Walberg, Hammerstrom and Owen and referred to the Committee on Appropriations. A bill to amend 1976 PA 451, entitled "The revised school code," by amending section 629 (MCL 380.629), as amended by 1997 PA 152. THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1 Sec. 629. (1) An intermediate school board may borrow, 2 subject to the municipal finance act, 1943 PA 202, MCL 131.1 to 3 139.3, sums of money on terms the intermediate school board con- 4 siders necessary for 1 or more of the following purposes: 5 (a) For temporary purposes for which the intermediate school 6 board may give notes of the intermediate school district. The 7 intermediate school board shall not borrow a sum that exceeds the 8 amount that has been voted by the intermediate school board or 9 the school electors of the intermediate school district. 06198'98 TAV 2 1 (b) To purchase sites for buildings; to purchase, erect, 2 complete, remodel, improve, furnish, refurnish, equip, or reequip 3 buildings and facilities the board is authorized to acquire, 4 including, but not limited to, general administrative, vocation- 5 al, or special education buildings or facilities, or parts of 6 those buildings or facilities, or additions to those buildings or 7 facilities, and prepare, develop, or improve sites for those 8 buildings or facilities; to purchase and install information 9 technology systems, together with the equipment and software, as 10 are necessary for programs conducted by the intermediate school 11 district under section 627(2); and to issue and sell bonds of the 12 intermediate school district in the form and on the terms the 13 board considers advisable. 14 (2) An intermediate school board shall not borrow money or 15 issue bonds for a term longer than 30 years or, except as other- 16 wise provided in this subsection, for a sum which, together with 17 the total outstanding bonded indebtedness of the intermediate 18 school district, exceeds1/91/4 of 1% of the state equalized 19 valuation of the taxable property within the district, unless the 20 question of borrowing the money or issuing bonds is submitted 21 first to a vote of the school electors of the intermediate school 22 district held under sections 661 and 662 and approved by the 23 majority of the registered school electors voting on the 24 question. Regardless of the amount of outstanding bonded indebt- 25 edness of the intermediate school district, a vote of the school 26 electors is not necessary in order to issue bonds for a purpose 27 described in section 1274a or to issue bonds under section 11i of 06198'98 3 1 the state school aid act of 1979, MCL 388.1611i. Money may be 2 borrowed and bonds may be issued for the purposes stated in this 3 section in an amount equal to that provided by part 17. For the 4 purposes of this subsection, bonds authorized by vote of the 5 school electors for special education facilities under part 30 6 and for area vocational-technical education facilities under sec- 7 tions 681 to 690 and bonds issued under section 11i of the state 8 school aid act of 1979, MCL 388.1611i, shall not be included in 9 computing the total outstanding bonded indebtedness of an inter- 10 mediate school district. 11 (3) Not later than 30 days after receipt of notice that the 12 question of issuing bonds under this section to purchase and 13 install information technology systems as are necessary for a 14 cooperative program under section 627(2) will be submitted to the 15 school electors of the intermediate school district, the board of 16 a constituent school district by resolution may elect not to par- 17 ticipate in the cooperative program and not to conduct an elec- 18 tion on the question within the constituent school district. 06198'98 Final page. TAV