2011 House Bill 5195 ↩

Senate Roll Call 834: Passed

To establish that when a fiscally failing school district enters an agreement with the state for direct payment to bondholders of future school aid money pledged to cover debt service on money borrowed by the district to cover deficit spending, the priority of these bondholders will be honored by the state, except that repayment is subject to any subsequent reduction of school aid payments to the district. See also House Bill 5194.