April 23, 2015, Introduced by Reps. Rutledge, Pscholka, Kelly, Zemke, LaVoy, Driskell, Plawecki, Darany, Dianda, Glenn, Singh, Townsend, Neeley and Faris and referred to the Committee on Education.
A bill to amend 1976 PA 451, entitled
"The revised school code,"
by amending section 863 (MCL 380.863).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 863. (1) If a school district becoming part of a
consolidated school district has bonded indebtedness, or has
outstanding tax anticipation notes at the time of consolidation,
the identity of the district shall not be lost by virtue of the
consolidation. Territory of the original school district shall
remain as an assessing unit for purposes of bonded indebtedness and
tax anticipation notes until the indebtedness is retired or the
outstanding bonds are refunded by the consolidated school district.
If a consolidated school district has not assumed the bonded
indebtedness of an original school district, the bonded
indebtedness of the original school district may be refunded by the
consolidated school district on behalf of the original school
district, and the territory of the original school district shall
remain as an assessing unit for the purposes of the refunding bonds
until the refunding funds are retired or are assumed by the
consolidated school district. The board of the consolidated school
district shall constitute the board of trustees for the original
school district having bonded indebtedness or tax anticipation
notes. The officers of the consolidated school district shall be
the officers for the original school district for this purpose.
(2) The board of the consolidated school district shall
certify and order the levy of taxes for the bonded indebtedness and
tax anticipation notes in the name of the original school district
and shall not commingle the debt retirement funds of the original
school district with funds of the consolidated school district. The
board of the consolidated school district shall do all things
relative to the bonded indebtedness and tax anticipation notes
required by law and by the terms under which the issue and sale of
the bonds and tax anticipation notes were originally authorized.
(3) Other taxes of any nature for purposes of the consolidated
school district shall be spread uniformly over the entire area of
the consolidated school district.