HOUSE BILL No. 5417


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


        A bill to amend 1976 PA 451, entitled

   "The revised school code,"

   by amending section 1363 (MCL 380.1363).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Sec. 1363.   (1) School districts shall be governed by Act

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      No. 202 of the Public Acts of 1943, as amended.  (2)  Money

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      raised by taxes or otherwise received by a school district for

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      the purpose of paying and discharging the principal and interest

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      of the indebtedness  shall be handled under Act No. 202 of the

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      Public Acts of 1943, as amended  IS SUBJECT TO THE REVISED MUNIC-

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      IPAL FINANCE ACT, 2001 PA 34, MCL 141.2101 TO 141.2821.










   05332'01          Final page.                            JLB