2011 House Bill 5194 ↩
Senate Roll Call 833:
Passed
To clarify details related to the full faith and credit pledge to lenders of future state school aid money by a school district that is borrowing to cover deficit spending. Also, to establish that a fiscally failed school district under the receivership of an Emergency Manager can make an agreement with the state for direct payment to bondholders of future school aid money pledged to cover debt service on such borrowing. See also House Bill 5195.