Michigan Attorney General, Formal Opinion Number 4123, March 22, 1963

Object Type: Asset
In Folder: Michigan Attorney General, Formal Opinions, 1963-2022

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Michigan Attorney General, Formal Opinion Number 4123, March 22, 1963

Item Data

Title: Michigan Attorney General, Formal Opinion Number 4123, March 22, 1963

Collection Number: RG 2026-015

Scope and Content: Where a school district borrows money and issues bonds for the purpose of constructing and equipping elementary school buildings, a high school building and purchasing school sites, bond proceeds must be used for those purposes only or be transferred to the debt retirement fund for payment of principal and interest on the aforesaid outstanding bonds. School tax electors are without authority to vote a transfer of bond proceeds to the general operating fund of the school district so long as the bonds are outstanding.

Division: Executive Office

Agency: Michigan Attorney General

Language: english

Subject: BONDS

Subject: Transfer of bond proceeds into general fund for operating purposes

Subject: SCHOOLS

Subject: Authority of school tax electors to vote to transfer bond proceeds

Date Issued: 1963-03-22

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