MCL - Act 151 of 1955


STATE LOANS TO SCHOOL DISTRICTS

Act 151 of 1955

AN ACT to provide for loans by the state of Michigan to school districts for the payment of principal and interest upon school bonds; to prescribe the terms and conditions thereof, and the conditions upon which levies for bond principal and interest shall be included in computing the amount to be so loaned by the state; to prescribe the duties of the superintendent of public instruction in relation to such loans; to provide for the repayment of such loans; and to provide for other matters in respect to such loans.


History: 1955, Act 151, Imd. Eff. June 7, 1955




The People of the State of Michigan enact:
Document Type Description
Section 388.931 Section Purpose of act.
Section 388.932 Section State loans to school districts; basis; limitations.
Section 388.933 Section State loans to school districts; qualification of bonds by superintendent of public instruction.
Section 388.934 Section State loans to school districts; procedure; receipts.
Section 388.935 Section State loans to school districts; repayment to state; interest.
Section 388.936 Section State loans to school district; false statements, concealment; penalty.
Section 388.937 Section State loans to school district; levy; default, nondistribution of primary school interest or school aid funds.
Section 388.938 Section State loans to school districts; qualification fee; rules and regulations.