***** Act 26 of 1982 THIS ACT DOES NOT APPLY AFTER JUNE 30, 1994: See 388.829 *****
EMERGENCY FINANCIAL ASSISTANCE FOR CERTAIN SCHOOL DISTRICTS
Act 26 of 1982
AN ACT to provide for emergency financial assistance for certain school districts; to prescribe certain powers and duties of intermediate school boards, local school boards, the state board of education, the state treasurer, and the auditor general; to create an emergency loan revolving fund; to make an appropriation; and to prescribe penalties.
History: 1982, Act 26, Imd. Eff. Mar. 4, 1982
© 2009 Legislative Council, State of Michigan
The People of the State of Michigan enact:
| Section 388.811 | Section | Definitions. |
| Section 388.812 | Section | Procedures. |
| Section 388.813 | Section | Emergency loan; eligibility criteria; certification; certified audit. |
| Section 388.814 | Section | Emergency loan; application; recommendation; warrant. |
| Section 388.815 | Section | Notes; issuance; maturity; interest rate; payment; review and approval of balanced budget; repayment; monthly expenditure report. |
| Section 388.816 | Section | Expenditures not to exceed revenue; maintaining balanced budget. |
| Section 388.817 | Section | Reorganization of school district not levying minimum mills; recommendation. |
| Section 388.818 | Section | Reorganization of school district certified as not able to balance budget; recommendation. |
| Section 388.819 | Section | Reorganization of school district not balancing budget in following fiscal year; recommendation. |
| Section 388.820 | Section | Reorganization of school district defaulting in repayment of loan; recommendation. |
| Section 388.821 | Section | Reorganization of school district; hearing; notice; recommendations. |
| Section 388.822 | Section | Existence of conditions warranting reorganization of school district; determination; transmitting report with recommendations. |
| Section 388.823 | Section | Report and recommendations of state committee; publication; objections or comments; consideration of report; determination as to indorsement. |
| Section 388.824 | Section | Reorganization of school district with 1 or more contiguous districts to provide equitable educational opportunity; effective date; finality. |
| Section 388.825 | Section | Bonded indebtedness of reorganized school district; territory of school district as assessing unit; board of trustees; officers; refinancing of original bonds; responsibility; certifying and ordering levy of taxes. |
| Section 388.826 | Section | Assumption and payment of bonded indebtedness; approval of electors; final responsibility; certifying and ordering levy of taxes; holding election. |
| Section 388.827 | Section | Compliance with MCL 380.1284; removal of board member. |
| Section 388.828 | Section | School emergency loan revolving fund; creation; purpose; warrant; transfer of repayments to general fund; appropriation. |
| Section 388.829 | Section | Applicability of loan provisions and act. |
