Michigan § 388.1928 Submission of ballot to electors; ballot.

Michigan Statutes

§ 388.1928 — Submission of ballot to electors; ballot.

Michigan § 388.1928

Ch. 388SCHOOLS AND SCHOOL AID

Act 92 of 2005SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (388.1921-388.1939)

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Bluebook

Mich. Comp. Laws § 388.1928 (2026).

Text

SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (EXCERPT) Act 92 of 2005 388.1928 Submission of ballot to electors; ballot. 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 expects to borrow from this state to pay debt service on the bonds, the estimated total amount of the principal of that borrowing and the interest to be paid on that borrowing, the estimated duration of the millage levy, and the estimated computed millage rate for that levy. The ballot shall also inform the electors of the total amount of q

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SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN ACT (EXCERPT) Act 92 of 2005 388.1928 Submission of ballot to electors; ballot. 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 expects to borrow from this state to pay debt service on the bonds, the estimated total amount of the principal of that borrowing and the interest to be paid on that borrowing, the estimated duration of the millage levy, and the estimated computed millage rate for that levy. The ballot shall also inform the electors of the total amount of qualified bond and loan debt currently outstanding and that the estimated computed millage rate may change based on changes in certain circumstances.