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Code · Michigan · Chapter 380 — The Revised School Code

380.1364 Tax for payment of principal and interest.

73 words·~1 min read·/mi/chapter-380/380-1364

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380.1364 Tax for payment of principal and interest.
Sec. 1364.
The board of a school district which borrows money shall impose an annual tax on the taxable property in the district for the purpose of paying the principal borrowed, or a part thereof, and the interest thereon, to be levied and collected as other school taxes are levied and collected.
History: 1976, Act 451, Imd. Eff. Jan. 13, 1977
Popular Name: Act 451
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