Mich. Comp. Laws § 388.1928

Current through Public Act 156 of the 2024 Legislative Session
Section 388.1928 - Submission of ballot to electors; ballot

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.

MCL 388.1928

Amended by 2012, Act 437,s 6, eff. 12/27/2012.
Added by 2005, Act 92, s 8, eff. 7/20/2005.