Monroe County Intermediate School District
Bylaws & Policies
 

6145 - BORROWING

Upon the initiative of the Board of Education and with the approval of the Municipal Finance Commission or State Department of Education, the Executive Director of Business shall prepare the data and applications regarding the borrowing of State Aid Notes, Tax Anticipation Notes, and Bond Issues.

Quotations shall be solicited for all short term loans which the Board has authorized. Funds shall be borrowed from the responsible organization offering the most favorable terms, as approved by the Board.

M.C.L.A. 134.1 et seq., 188.761 et seq., 380.144, 380.1225