HB-4421, As Passed House, March 20, 2007

SUBSTITUTE FOR

HOUSE BILL NO. 4421

A bill to amend 1988 PA 265, entitled

"District library financing act,"

by amending section 8 (MCL 397.288), as amended by 1989 PA 25.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 8. If a majority of the qualified electors of a district

voting on the question of issuing bonds approves the issuance, or

if bonds are otherwise issued pursuant to section 5, the board, by

resolution, shall authorize and levy the taxes necessary to pay the

principal of and interest on the bonds. The taxes shall be levied

and collected ~~with the~~ at the time provided by statute for the

collection of unallocated county taxes. If, pursuant to section 5,

the bonds are issued without submission of the question of the bond

issue to the electors, the board shall not authorize or levy a tax

that exceeds the tax levy authorized by a vote of the qualified