TREASURY - School Loan Revolving Fund

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School Loan Revolving Fund

The School Loan Revolving Fund (SLRF) is a self-sustaining fund
that makes loans to school districts to assist with making debt service payments on state qualified bonds issued under the School Bond Qualification and Loan Program. Any money repaid by school districts on loans made by the SLRF are deposited back into the fund for future use.

In order to borrow from the state for debt service needs the district must:
- Have the bond issue qualified.
- Levy a minimum of 7 debt mills.

School Loan Revolving Fund participants must submit a board authorized application due annually every August 1^st:

The School Loan Revolving Fund Process PDF provides detailed information regarding participation requirements. Participants are encouraged to download or print this reference document.

SBQLP Administrative Rules *New*

Borrowing for Debt Service

A district may request a loan from the state for the additional
portion of the funds required to make full debt service payment rather than increase its current debt millage. Funds are disbursed to the district before the May and November debt service payments.

November 2008 Debt Service

Debt Service Repayment

While loan repayment is deferred until the required debt millage yields enough to pay the district's debt service obligations, interest accumulation does begin once funds are disbursed.

Remittance Instructions

Refunding Qualified Loans

Request for Net Present Value Savings Requirement Exception PDF icon

Stay Informed

SBQLP Electronic Mailing List
SBQLP Listserv subscription information. Keep up to date regarding program changes and deadlines.

Contact SBQLP

School Bond Qualification and Loan Program
Location: Austin Building, 1st Floor
(Formerly Treasury Building)
430 W. Allegan
Lansing, MI 48922
Mail: P.O. Box 15128
Lansing, MI 48901
Phone: (517) 335-0994
Fax: (517) 241-1233
Email: LopezJ@michigan.gov


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