The Michigan Legislative Website data sources are undergoing upgrades. Thank you for your patience as we work through any issues.

Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 48 of 2019
House: Adjourned until Wednesday, November 13, 2019 10:00:00 AM
Senate: Adjourned until Tuesday, November 12, 2019 10:00:00 AM

Michigan Legislature

Main Content

Act 112 of 1961
Search within this Statute for


Act 112 of 1961

AN ACT to authorize and provide for the issuance, sale, and refunding of bonds, notes, or commercial paper of the state; to provide funds for making loans to school districts for payment of principal and interest on certain school bonds; to provide for use of moneys repaid to the state by school districts; and to make an appropriation.

History: 1961, Act 112, Eff. Sept. 8, 1961 ;-- Am. 1991, Act 64, Imd. Eff. July 3, 1991 ;-- Am. 2000, Act 245, Imd. Eff. June 29, 2000

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 388.981SectionState loans to school districts; bonds, notes, or commercial paper.
Section 388.981aSectionIssuance of bonds by state administrative board.
Section 388.981bSectionSecurity for payment or purchase of bonds, notes, or commercial paper; authorization and approval by state administrative board; authority of state treasurer or deputy treasurer.
Section 388.981cSectionBonds and notes; revised municipal finance act inapplicable; agency financing reporting act applicable.
Section 388.982SectionSale of refunding bonds, notes, or commercial paper; disposition of proceeds; payment.
Section 388.983SectionAppropriation for payment of principal and interest on bonds or notes.
Section 388.984SectionMoney repaid by school districts on loans from school loan revolving fund; deposit; assignment of loans or repayments on loans.
Section 388.985SectionState loans to school districts; notes.
up icon