Michigan § 388.1924 - Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification.
Full text of Michigan Michigan Compiled Laws § 388.1924 — Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification., with citation guidance and answers to common questions.
§ 388.1924. Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification.
(1) A school district may issue and market bonds as qualified bonds if the state treasurer has issued an order granting qualification under this act.
(2) Except with regard to qualification of new bonds, nothing in this act shall be construed to alter the terms and conditions applicable to outstanding qualified bonds issued in accordance with former 1961 PA 108. Unless otherwise amended as permitted by this act, outstanding qualified loans incurred in association with outstanding qualified bonds described in this subsection shall bear interest as provided in section 9(8) but otherwise shall be due and payable as provided in the repayment agreements entered into between the school district and the state before the effective date of this act.
(3) The state treasurer may qualify bonds for which the state treasurer has received an application for prequalification on or before May 25, 2005 without regard to the requirements of section 5(2)(f) if the electors of the school district approve the bonds at an election held during 2005.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 388.1924
What does Michigan Compiled Laws § 388.1924 cover?
Section 388.1924 ("Qualification of new bonds; terms and conditions applicable to outstanding qualified bonds; application for prequalification.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 388.1924?
A common citation format is "Michigan Compiled Laws § 388.1924" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 388.1924 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.