Section 123.721a - Purchase of telecommunication services for school purposes. - Michigan Statutes

PURCHASE OF LANDS AND PROPERTY FOR PUBLIC PURPOSES (EXCERPT)
Act 99 of 1933

123.721a Purchase of telecommunication services for school purposes.

Sec. 1a.

The governing body of a school district may enter into a contract for the purchase of telecommunication and related services for school purposes to be paid for in installments over a period not to exceed the useful life of the service or the term of the contract, whichever is shorter. However, if the governing body borrows funds to pay for telecommunication and related services, the total cost of principal, interest, and fees, and expenses of borrowed funds, shall not exceed the total amount of the original service installment contract.

History: Add. 1997, Act 77, Imd. Eff. July 22, 1997