Section R. 388.3 - Qualification of bondsRule 3.
(1) To obtain final qualification of bonds, a school district shall, along with meeting any other requirements of section 7 of the act, MCL 388.1927, submit a final qualification application and supporting documentation in the form prescribed by the department.(2) Supporting documentation shall include all of the following: (a) A cover letter from legal counsel indicating the requested approval date and delivery date if known at the time of submission.(b) The certificate of determination of election results and vote count approving the bonds.(c) An updated pro forma debt service projection.(d) A copy of any adopted resolution authorizing the issuance of bonds.(e) A copy of any resolution authorizing the sale of bonds if such a resolution is applicable.(3) Supporting documentation for refunding bond issues shall include additional financial schedules that document net present value savings of the refunding bond issue.(4) Notwithstanding the repayment requirements of these rules, all bonds qualified under the act and article IX of the state constitution of 1963 shall be considered qualified upon issuance of the order qualifying bonds by the state treasurer until final maturity.Mich. Admin. Code R. 388.3
2007 AACS; 2014 AACS; 2022 MR 3, Eff. 2/15/2022