MI HB5806

Extends the maximum term for installment contracts and notes issued for energy conservation improvements at community colleges from the previous limit to 25 years from the date of installation.

Allows community college boards to fund energy conservation improvements through operating funds, savings from the improvements, installment contracts, borrowed money, or contracts where costs are paid from resulting savings.

Specifies eligible energy conservation improvements including heating systems, windows, roofs, insulation, HVAC controls, and entrance/exit closures.

Notes issued for energy conservation improvements are full faith and credit, tax-limited obligations of the community college district subject to the revised municipal finance act.

Does not limit any existing borrowing or bonding authority of community colleges under other provisions of law.