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HB 4141 - Expanding the Use of School Sinking Funds - Michigan Key Vote

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Title: Expanding the Use of School Sinking Funds

Vote Smart's Synopsis:

Vote to pass a bill that allows school districts to use sinking funds for any purpose for which school districts may borrow money and issue bonds, while existing law limits the use of such funds to the purchase of real estate and the construction or repair of school buildings.

Highlights:

- Adds the following to the list of purposes for which school districts may use sinking funds, as enumerated by existing law (Sec. 1212):

    - Purchasing, erecting, completing, remodeling, or equipping or reequipping school buildings, including library buildings, structures, athletic fields, playgrounds, or other facilities, or parts of or additions to those facilities; - Furnishing or refurnishing new or remodeled school buildings; - Acquiring, preparing, developing, or improving sites, or parts of or additions to sites, for school buildings, including library buildings, structures, athletic fields, playgrounds, or other facilities; - Purchasing school buses; - Acquiring, installing, or equipping or reequipping school buildings for technology; or - A combination of the purposes listed above.

Title: Expanding the Use of School Sinking Funds

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