State Codes and Statutes
Statutes > Michigan > Chapter-388 > Act-92-of-2005 > Section-388-1928SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (EXCERPT)
Act 92 of 2005
388.1928 Submission of ballot to electors; notice of requirement to continue levy of mills.
Sec. 8.
A ballot submitted to the school electors of a school district after November 8, 2005 requesting authorization to issue unlimited tax general obligations that will be guaranteed by this state in accordance with section 16 of article IX of the state constitution of 1963 shall inform the electors that if the school district borrows from this state to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay this state.
History: 2005, Act 92, Imd. Eff. July 20, 2005
