Section 380.1352 - Borrowing money or issuing bonds; contract for legal representation. - Michigan Statutes

THE REVISED SCHOOL CODE (EXCERPT)
Act 451 of 1976

380.1352 Borrowing money or issuing bonds; contract for legal representation.

Sec. 1352.

The board of a school district or intermediate school district shall not contract for legal representation by an attorney or law firm in connection with borrowing money and issuing bonds under this act unless the board or intermediate school board does all of the following:

(a) Requests from the attorney or law firm and obtains before entering into the contract disclosure of whether the attorney or law firm also represents the underwriter of the bonds or any other party involved in the bond issue.

(b) If the disclosure under subdivision (a) indicates that the attorney or law firm represents the underwriter or another party involved in the bond issue, consents by majority vote of the board or intermediate school board to entering into the contract notwithstanding the attorney's or law firm's representation of the underwriter or other party as well as the board or intermediate school board.

(c) In its contract with the attorney or law firm, requires the attorney or law firm to submit itemized billings on at least a monthly basis that itemize at least time and services provided and any payments made by the attorney or law firm to third parties in connection with representation of the board or intermediate school board.

History: Add. 1994, Act 278, Imd. Eff. July 11, 1994
Popular Name: Act 451