Upon the initiative of the Board of Trustees and with the approval of the Municipal Finance Commission or State Department of Education, the President shall prepare the data and applications regarding the sale of Tax Anticipation Notes and/or Bond Issues.
Bids shall be solicited for all short term loans which the Board has authorized. Funds shall be borrowed from the responsible organization offering the most favorable terms, as approved by the Board.
M.C.L. 134.1 et seq., 188.761 et seq., 380.144, 380.1225