An Act relating to municipal educational service areas; relating to municipal bonds; and providing for an effective date.
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill modifies how municipalities can finance school improvements through educational service areas and municipal bonds. It establishes a process for creating these areas, outlines requirements for bond elections, and clarifies the rules surrounding voter approval and debt obligations. Specifically, it allows municipalities to form educational service areas to acquire, construct, and equip schools, and it updates definitions related to municipal bonds to include those issued for educational service areas.
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