Sec. 1364. The board of a school district which borrows money shall impose an annual tax on the taxable property in the district for the purpose of paying the principal borrowed, or a part thereof, and the interest thereon, to be levied and collected as other school taxes are levied and collected.
Tax for payment of principal and interest.
Mich. Comp. Laws § 380.1364, under THE REVISED SCHOOL CODE.
Mich. Comp. Laws § 380.1364