HOUSE BILL No. 5995


     September 27, 2000, Introduced by Rep. Pappageorge and referred to the Committee on Tax Policy.


        A bill to amend 1976 PA 451, entitled

   "The revised school code,"

   (MCL 380.1 to 380.1852) by adding sections 629a and 1351c.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 629A.  IF AN INTERMEDIATE SCHOOL DISTRICT PLEDGES ANY

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      PORTION OF THE GENERAL FUND OF THE INTERMEDIATE SCHOOL DISTRICT

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      AND ISSUES ANY BOND OTHER THAN A GENERAL OBLIGATION BOND OR A

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      REVENUE BOND UNDER THIS ACT, THE INTERMEDIATE SCHOOL DISTRICT

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      SHALL PROVIDE FOR AND PUBLISH A NOTICE OF INTENT AS PROVIDED IN

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      SECTION 10 OF CHAPTER 5 OF THE MUNICIPAL FINANCE ACT, 1943 PA

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      202, MCL 135.10.

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           SEC. 1351C.  IF A SCHOOL DISTRICT PLEDGES ANY PORTION OF THE

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      GENERAL FUND OF THE SCHOOL DISTRICT AND ISSUES ANY BOND OTHER

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      THAN A GENERAL OBLIGATION BOND OR A REVENUE BOND UNDER THIS ACT,

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      THE SCHOOL DISTRICT SHALL PROVIDE FOR AND PUBLISH A NOTICE OF


   05808'00                                                 JLB
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      INTENT AS PROVIDED IN SECTION 10 OF CHAPTER 5 OF THE MUNICIPAL

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      FINANCE ACT, 1943 PA 202, MCL 135.10.




















































   05808'00          Final page.                            JLB