HOUSE BILL No. 5421


     November 1, 2001, Introduced by Rep. Kuipers and referred to the Committee on Commerce.


        A bill to amend 1966 PA 331, entitled

   "Community college act of 1966,"

   by amending section 126 (MCL 389.126).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Sec. 126.  Notwithstanding the provisions of sections 121

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      and 122, the board of trustees may acquire lands or acquire or

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      erect and equip buildings or maintain them to be used as resi-

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      dence halls, apartments, dining facilities, student centers,

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      health centers, parking facilities, stadiums, athletic fields,

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      gymnasiums, auditoriums, and other educational facilities and

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      finance the acquisition  thereof  OF THOSE by borrowing money and

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      issuing bonds or other obligations  therefor  under  such  THE

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      terms and provisions as it  deems  CONSIDERS best, including the

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      right to refund  such  THE bonds or obligations and the board

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      shall obligate itself for the repayment  thereof  OF THE BONDS OR


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      OTHER OBLIGATIONS, together with interest,  thereon,  solely out

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      of the income and revenues from  such  THE facilities or other

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      facilities  heretofore or hereafter  acquired or any combination

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       thereof  OF THESE FACILITIES or from allocations and pledges of

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      fees and charges required to be paid by students enrolling in the

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      college, or any combination  thereof  OF THESE.   The bonds shall

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      be for a period not to exceed 50 years, and shall never consti-

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      tute a debt of the state or any political subdivision thereof.

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      The bonds shall  not  be subject to  Act No.  202 of the Public

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      Acts of 1943, as amended, being sections 131.1 to 131.3 of the

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      Compiled Laws of 1948  THE REVISED MUNICIPAL FINANCE ACT, 2001 PA

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      34, MCL 141.2101 TO 141.2821, or to  Act No.  94 of the Public

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      Acts of 1933, as amended, being sections 141.101 to 141.139 of

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      the Compiled Laws of 1948  THE REVENUE BOND ACT OF 1933, 1933 PA

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      94, MCL 141.101 TO 141.140.



























   05335'01          Final page.                            JLB