reglab/housing_qa huggingface dataset:
MI Comp L § 141.151 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 342 of 1969 - Interest Rates for Public Corporations (141.151 - 141.153)|Section 141.151 - Definitions.

141.151 Definitions. Sec. 1.  As used in this act:  (a) "Public corporation" means any body corporate organized by or pursuant to the laws of this state to carry out a public governmental or propriety function, including, without limitation on the foregoing, the state or any school district, city, village, township, county, district, commission, authority, university, college, or any combination thereof, which is a corporate entity.  (b) "Bonds or other evidences of indebtedness" means any instrument providing for the payment of money, executed by or on behalf of a public corporation or which a public corporation has assumed and agreed to pay, including, without limitation on the foregoing bonds, notes, contracts, leases and certificates, but shall not include bonds or other evidences of indebtedness issued pursuant to Act No. 346 of the Public Acts of 1966, as amended. History: 1969, Act 342, Imd. Eff. Dec. 26, 1969 ;-- Am. 1971, Act 40, Imd. Eff. June 17, 1971
MI Comp L § 141.152 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 342 of 1969 - Interest Rates for Public Corporations (141.151 - 141.153)|Section 141.152 - Maximum Interest Rate on Certain Bonds and Evidences of Indebtedness.

141.152 Maximum interest rate on certain bonds and evidences of indebtedness. Sec. 2.  Notwithstanding the provisions of any other law, charter provision, ordinance, ballot or other proceedings to the contrary, any public corporation may agree or contract to pay interest on bonds or other evidences of indebtedness issued by it pursuant to law, subject where required by law to the prior permission of the municipal finance commission, at an interest rate or rates not greater than 8% per annum on bonds or other evidences of indebtedness issued after the effective date of this act but before July 1, 1973. History: 1969, Act 342, Imd. Eff. Dec. 26, 1969 ;-- Am. 1971, Act 40, Imd. Eff. June 17, 1971
MI Comp L § 141.153 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 342 of 1969 - Interest Rates for Public Corporations (141.151 - 141.153)|Section 141.153 - Maximum Interest Rate on Assessments or Certain Contract Obligations; Adjustment.

141.153 Maximum interest rate on assessments or certain contract obligations; adjustment. Sec. 3.  Notwithstanding the provisions of any other law, charter provision or ordinance to the contrary, any assessment made by a public corporation against any corporation, public or private, or any firm or person, or any contract obligation incurred by a public corporation, in anticipation of which bonds are to be issued, may bear any rate of interest, not exceeding 1 percentage point over the maximum rate at which the bonds or other evidences of indebtedness are to be offered for sale, determined by the governing body of the assessing or contracting public corporation at the time of assessment or contract obligation. If bonds or other evidences of indebtedness are subsequently issued in anticipation of the assessment or contract obligation, the rate of interest payable on the assessment or contract obligation shall be adjusted after the issuance to the rate required to produce an amount sufficient to pay the interest on the bonds or other evidences of indebtedness as they mature, but not exceeding 1 percentage point over the average rate of interest borne by the bonds or other evidences of indebtedness. History: 1969, Act 342, Imd. Eff. Dec. 26, 1969 ;-- Am. 1971, Act 40, Imd. Eff. June 17, 1971
MI Comp L § 141.161 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.161 - Short Title.

141.161 Short title. Sec. 1.  This act shall be known and may be cited as "the unlimited tax election act". History: 1979, Act 189, Imd. Eff. Dec. 21, 1979 Compiler's Notes: Former MCL 141.161, pertaining to acquisition and financing of city parking facilities, was repealed by Act 71 of 1957.
MI Comp L § 141.162 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.162 - Definitions.

141.162 Definitions. Sec. 2.  As used in this act, except when otherwise indicated by the context:  (a) "Legislative body" means the board, council, commission, or other body having legislative or general governing power of a public corporation.  (b) "Public corporation" means a county, city, village, township, charter township, port authority, metropolitan district, or authority of this state, or a combination of these entities when authorized by law to act jointly.  (c) "Tax obligation" means a bond, note, contract obligation, assessment, or other evidence of indebtedness payable primarily or secondarily from ad valorem taxes as a general or full faith and credit obligation of a public corporation.  (d) "Unlimited tax pledge" means an undertaking by a public corporation to secure and pay a tax obligation from ad valorem taxes to be levied on all taxable property within the boundaries of the public corporation without limitation as to rate or amount and in addition to other taxes which the public corporation may be authorized to levy. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979 Compiler's Notes: Former MCL 141.162, pertaining to acquisition and financing of city parking facilities, was repealed by Act 71 of 1957.
MI Comp L § 141.163 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.163 - Purpose.

141.163 Purpose. Sec. 3.  This act creates full and complete additional and alternative methods for the exercise of the powers granted in this act. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979 Compiler's Notes: Former MCL 141.163, pertaining to acquisition and financing of city parking facilities, was repealed by Act 71 of 1957.
MI Comp L § 141.164 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.164 - Unlimited Tax Pledges for Payment of Tax Obligations; Resolution Submitting Question to Vote of Electors; Election; Approval; Binding Unlimited Tax Pledges; Tax Levy.

141.164 Unlimited tax pledges for payment of tax obligations; resolution submitting question to vote of electors; election; approval; binding unlimited tax pledges; tax levy. Sec. 4.  (1) If a public corporation is authorized by statute or charter to issue or incur tax obligations which under the terms of section 6 of article 9 of the state constitution of 1963 may be secured by unlimited tax pledges of the public corporation if approved by its electors, the legislative body of the public corporation may by resolution submit the question of making 1 or more unlimited tax pledges in support of 1 or more tax obligations to a vote of its electors at a regularly scheduled election to be held in the public corporation or at a special election which may be called for this purpose by the legislative body.  (2) An election authorized under this section shall be called and conducted pursuant to Act No. 116 of the Public Acts of 1954, as amended, being sections 168.1 to 168.992 of the Michigan Compiled Laws.  (3) Upon the approving vote of a majority of the qualified electors of the public corporation voting on the question, the public corporation may make 1 or more binding unlimited tax pledges for the payment of 1 or more tax obligations referred to in the ballot. After this vote of approval the public corporation may levy, for payment of these obligations, ad valorem taxes on all taxable property within its boundaries without regard to a charter, statutory, or constitutional tax limitation, and in addition to other taxes which the public corporation may be authorized to levy. However, the tax which may be levied shall not be excess of a rate or amount sufficient for payment of the obligations. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979
MI Comp L § 141.165 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.165 - Different Tax Obligations as Single Ballot Proposition; Contents of Ballot Question and Notice of Election; New Authority Not Granted.

141.165 Different tax obligations as single ballot proposition; contents of ballot question and notice of election; new authority not granted. Sec. 5.  (1) Even though the tax obligations may be for different purposes and may be issued or incurred individually over a period of time, a public corporation may submit the question of making 1 or more unlimited tax pledges in support of 1 or more tax obligations as a single ballot proposition.  (2) The ballot question shall set forth the maximum principal amount of each tax obligation to be secured by the unlimited tax pledge or pledges.  (3) The notice of election shall set forth a brief general description of the purpose of each unlimited tax pledge, a statement of the estimated period of time over which each tax obligation is expected to be issued or incurred, and other information as the legislative body of the public corporation determines to be necessary to adequately inform the electors concerning the question. The statement of estimated period of time shall be considered to be for informational purposes and shall not be binding upon the public corporation if the legislative body of the public corporation later determines that changed circumstances have rendered the estimate impossible or impractical to comply with.  (4) This act shall not grant a public corporation new authority to combine questions of issuing or incurring a number of different tax obligations in a single ballot proposition, require a public corporation to secure approval of its electors to issue or incur tax obligations if not otherwise required by law, or require a public corporation to submit the question of making an unlimited tax pledge in support of a tax obligation which has been approved by its electors. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979
MI Comp L § 141.166 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.166 - Time of Making Unlimited Tax Pledge in Support of Tax Obligation.

141.166 Time of making unlimited tax pledge in support of tax obligation. Sec. 6.  A public corporation shall not be required to have issued or incurred 1 or more tax obligations to be supported by 1 or more unlimited tax pledges before the election at which the question of making the pledges is submitted, and a public corporation may conduct the election either before, concurrently with, or after issuing or incurring a tax obligation. A public corporation may make an unlimited tax pledge in support of a tax obligation before the election to approve the pledge, but a pledge shall not be binding on the public corporation until the question of making the pledge has been approved by the electors of the public corporation as provided in section 4. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979
MI Comp L § 141.167 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.167 - Validation of Prior Elections.

141.167 Validation of prior elections. Sec. 7.  Elections held in substantial compliance with and before the effective date of this act shall be considered to have secured voter approval of an unlimited tax pledge and are hereby validated. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979
MI Comp L § 141.168 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 189 of 1979 - The Unlimited Tax Election Act (141.161 - 141.168)|Section 141.168 - Liberal Construction.

141.168 Liberal construction. Sec. 8.  This act shall be liberally construed to effect its purposes. History: 1979, Act 189, Imd. Eff. Dec. 21, 1979
MI Comp L § 141.171 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 219 of 1952 - Township Parking Facilities (141.171 - 141.173)|Section 141.171 - Automobile Parking Facilities; Leasing Space, Limitation.

141.171 Automobile parking facilities; leasing space, limitation. Sec. 1.  Any township may acquire, improve, enlarge, extend and operate automobile parking facilities for the use of the public and may finance the same by the issuance of revenue bonds, all as provided in Act No. 94 of the Public Acts of 1933, as now or hereafter amended, being sections 141.101 to 141.139, inclusive, of the Compiled Laws of 1948. Such facilities at any 1 location may be operated independently or jointly with those at 1 or more other locations. For the purpose of such acquirement a township may purchase, construct and/or condemn property. Such facilities may be acquired and operated by a township after first securing the approval of the electors thereof, and shall be open to the use of the public in general on the same terms as may be prescribed by the township board. The township board shall submit such proposition to the electors of the township at any general or special election called for that purpose, and if a majority vote of the electors voting thereon shall vote in favor thereof, the township board shall be authorized to acquire and operate automobile parking facilities, as provided under the provisions of this act. Automobile parking facilities owned by a township and for the use of which a fee is charged shall not be exempt from taxation. History: 1952, Act 219, Eff. Sept. 18, 1952
MI Comp L § 141.172 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 219 of 1952 - Township Parking Facilities (141.171 - 141.173)|Section 141.172 - Automobile Parking Facilities; Leasing of Ground and Basement Floor Space by Township for Purposes Other Than Parking of Automobiles.

141.172 Automobile parking facilities; leasing of ground and basement floor space by township for purposes other than parking of automobiles. Sec. 2.  The township board of the township may lease for purposes other than the parking of automobiles, upon such terms and for such periods as it shall deem advisable, any portion of the ground and basement floor space in any structure acquired hereunder, but not to exceed 25 per centum of the total floor area of the entire structure, if it shall deem such leasing to be beneficial in connection with the acquirement and/or operation of such facilities. If a structure is designed for the parking of automobiles on the roof, such roof area shall be considered as a part of the floor area of the structure. The income from any such lease shall be deemed a part of the revenues of the facilities: Provided, however, That no business involving the servicing, repairing or the furnishing of supplies for motor vehicles other than the parking of such vehicles and the delivery thereof shall be dispensed or furnished at or in connection with any township parking facility. History: 1952, Act 219, Eff. Sept. 18, 1952
MI Comp L § 141.173 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 219 of 1952 - Township Parking Facilities (141.171 - 141.173)|Section 141.173 - Scope of Act.

141.173 Scope of act. Sec. 3.  This act shall not be deemed to repeal or limit the powers granted in any other act but shall be construed as cumulative authority for the exercise of the powers herein granted. History: 1952, Act 219, Eff. Sept. 18, 1952
MI Comp L § 141.211 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 204 of 1933 - Defaulted Municipal Bonds (141.211 - 141.214)|Section 141.211 - Defaulted Municipal Bonds.

141.211 Defaulted municipal bonds. Sec. 1.  Any county, city, township, village, or school district in this state is hereby authorized to call for tenders of, and accept defaulted bonds of such municipality by complying with the following terms and conditions.  History: 1933, Act 204, Imd. Eff. June 28, 1933 ;-- CL 1948, 141.211
MI Comp L § 141.212 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 204 of 1933 - Defaulted Municipal Bonds (141.211 - 141.214)|Section 141.212 - Defaulted Municipal Bonds; Call for Tenders.

141.212 Defaulted municipal bonds; call for tenders. Sec. 2.  Whenever any bonds of any special assessment district or improvement district of any county, city, township, village, or school district of the state of Michigan shall have been or have remained in default as to principal or interest for a period of longer than 6 months and there shall not be, or have been within said period of default, sufficient sums of money on hand belonging to said special assessment district or improvement district to pay the principal and interest of said bonds so in default, the governing body of such municipality may by resolution call for tenders of such defaulted bonds and advertise such call for tenders of bonds at least once, in a newspaper having general circulation in such municipality. Such advertisement shall be published at least 10 days prior to the time for presentation of such tenders of bonds. History: 1933, Act 204, Imd. Eff. June 28, 1933 ;-- CL 1948, 141.212
MI Comp L § 141.213 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 204 of 1933 - Defaulted Municipal Bonds (141.211 - 141.214)|Section 141.213 - Defaulted Municipal Bonds; Tenders, Acceptance or Rejection.

141.213 Defaulted municipal bonds; tenders, acceptance or rejection. Sec. 3.  Upon the giving of such call for tenders of such bonds, the holder or holders thereof may submit his tender to the governing body of such municipality, sealed and in writing, stipulating the lowest price at which the owner of such bond or bonds will sell such bonds to said municipality. At the time set for the opening and examining of such tenders the governing body of such municipality shall examine and list such tenders as shall have been made and may accept the lowest tender thereof, but not to exceed the amount of funds available of such special assessment district or improvement project: Provided, That such municipality shall first accept the tender or tenders which are the lowest in price and next accept such additional tenders at the next lowest price, the total of said tenders so accepted not to be in excess of the available balance of funds of said special assessment district or project: Provided further, That in all such advertisements of calls for tenders, the municipality shall reserve the right to reject all tenders, and such municipality may upon the opening of such tenders, reject all of the same.  History: 1933, Act 204, Imd. Eff. June 28, 1933 ;-- CL 1948, 141.213
MI Comp L § 141.214 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 204 of 1933 - Defaulted Municipal Bonds (141.211 - 141.214)|Section 141.214 - Defaulted Municipal Bonds; Payment of Accepted Tenders.

141.214 Defaulted municipal bonds; payment of accepted tenders. Sec. 4.  Upon the acceptance of any of such tenders, said bonds shall be paid at the price requested by such tenders, out of the funds available therefor of such special assessment district or improvement project, and such bonds as shall have been accepted in pursuance to such tenders shall be immediately cancelled. History: 1933, Act 204, Imd. Eff. June 28, 1933 ;-- CL 1948, 141.214
MI Comp L § 141.221 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 79 of 1937 - Municipal Borrowing (141.221 - 141.226)|Section 141.221 - Definitions.

141.221 Definitions. Sec. 1.  The following definitions shall apply for the purposes of this act:  (a) "Municipality" means any local unit of government of this state which may now or may hereafter operate any public utility pursuant to law for the purpose of supplying bus or street railway transportation, including all plants, works, instrumentalities, and properties used or useful in connection with the operation of any public utility for the purpose of supplying street railway or bus transportation, except any gas or electric utility, or water supply systems, including all plants, works, instrumentalities, and properties used or useful in connection with obtaining a water supply system, the treatment of water or the distribution of water, or both, except any gas or electric utility.  (b) "Governing" means the council, common council, or commission of a municipality.  (c) "Fiscal year" means the 12-month period as may be determined by statute, charter, or ordinance as the fiscal year of the municipality. History: 1937, Act 79, Imd. Eff. June 14, 1937 ;-- Am. 1947, Act 342, Eff. Oct. 11, 1947 ;-- CL 1948, 141.221 ;-- Am. 1983, Act 50, Imd. Eff. May 16, 1983
MI Comp L § 141.222 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 79 of 1937 - Municipal Borrowing (141.221 - 141.226)|Section 141.222 - Municipal Borrowing; Bus and Street Railway Transportation or Water Supply Utility Purposes.

141.222 Municipal borrowing; bus and street railway transportation or water supply utility purposes. Sec. 2.  Any municipality of this state that operates any public utility pursuant to law for the purpose of supplying bus or street railway transportation or water supply may, by resolution of its governing body, borrow money and issue notes for the purpose of acquiring, constructing, purchasing, owning, maintaining, or operating any public utility as described in section 1(a), as the board in charge of the utility and the governing body of the municipality may consider necessary or desirable for the purpose of supplying bus or street railway transportation or water supply to the inhabitants of the municipality and within a distance of 10 miles from any portion of its corporate limits, and as the public convenience may require, together with all the necessary equipment.  History: 1937, Act 79, Imd. Eff. June 14, 1937 ;-- Am. 1947, Act 342, Eff. Oct. 11, 1947 ;-- CL 1948, 141.222 ;-- Am. 2002, Act 193, Imd. Eff. Apr. 29, 2002
MI Comp L § 141.223 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 79 of 1937 - Municipal Borrowing (141.221 - 141.226)|Section 141.223 - Notes Subject to MCL 141.2101 to 141.2821.

141.223 Notes subject to MCL 141.2101 to 141.2821. Sec. 3.  Notes issued under this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. History: 1937, Act 79, Imd. Eff. June 14, 1937 ;-- CL 1948, 141.223 ;-- Am. 1983, Act 50, Imd. Eff. May 16, 1983 ;-- Am. 2002, Act 193, Imd. Eff. Apr. 29, 2002
MI Comp L § 141.224 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 79 of 1937 - Municipal Borrowing (141.221 - 141.226)|Section 141.224 - Municipal Borrowing for Utility Purposes; Limitations.

141.224 Municipal borrowing for utility purposes; limitations. Sec. 4.  Any governmental unit described in this act may borrow money and issue notes in anticipation of the collection of revenues of any utility described in this act to an amount not exceeding 10% of the total revenues of the public utility for the preceding fiscal year. The notes may be issued at any time against current revenues of the utility or the same may be issued against the revenues of any ensuing fiscal year and shall be made payable not later than the fiscal year against which revenues are pledged. History: 1937, Act 79, Imd. Eff. June 14, 1937 ;-- CL 1948, 141.224 ;-- Am. 2002, Act 193, Imd. Eff. Apr. 29, 2002
MI Comp L § 141.225 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 79 of 1937 - Municipal Borrowing (141.221 - 141.226)|Section 141.225 - Repealed. 2002, Act 193, Imd. Eff. Apr. 29, 2002.

141.225 Repealed. 2002, Act 193, Imd. Eff. Apr. 29, 2002. Compiler's Notes: The repealed section pertained to municipal borrowing for utility purposes.