Michigan Compiled Laws § 388.1618c Contract Between Public School Academy, Achievement Authority, Or Achievement School And Third Party.

388.1618c Contract between public school academy, achievement authority, or achievement school and third party.

Sec. 18c.

Any contract, mortgage, loan, or other instrument of indebtedness entered into by a public school academy, the achievement authority, or an achievement school receiving funds under this act and a third party does not constitute an obligation, either general, special, or moral, of this state or of an authorizing body. The full faith and credit or the taxing power of this state or any agency of this state, or the full faith and credit of an authorizing body, shall not be pledged for the payment of any contract, mortgage, loan, or other instrument of indebtedness entered into by a public school academy, the achievement authority, or an achievement school.

History: Add. 2000, Act 297, Imd. Eff. July 26, 2000 ;-- Am. 2012, Act 201, Eff. Oct. 1, 2012

Section: Previous  388.1617  388.1617a  388.1617b  388.1617c  388.1618  388.1618a  388.1618b  388.1618c  388.1618d  388.1619  388.1619a-388.1619c  388.1620  388.1620a  388.1620b  388.1620c  Next

Last modified: October 10, 2016