reglab/housing_qa huggingface dataset:
MI Comp L § 141.122a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.122a - Delinquent Tax Revenues; Statutory Lien; Commingling; Designation of Note and Interest Redemption Account; Set Aside of Reasonable Excess Amount; Reserve; Transfer of Surplus to County General Fund.

141.122a Delinquent tax revenues; statutory lien; commingling; designation of note and interest redemption account; set aside of reasonable excess amount; reserve; transfer of surplus to county general fund.Sec. 22a.  (1) In the authorizing order, the county treasurer shall also provide that the delinquent tax revenues of the delinquent tax system are all subject to a statutory lien and shall be kept separate from and shall not be commingled with any other money in the custody of the county treasurer. The delinquent tax revenues of the delinquent tax system shall be used to provide for the payment of the principal of and the interest upon all notes payable from those revenues, as and when the notes become due and payable. This account shall be designated note and interest redemption account and shall be subject to the statutory lien. In respect to the allocation and use of money in the note and interest redemption account, due recognition shall be given as to priority rights, if any, between different issues or series of outstanding notes. If authorized under a resolution adopted by the board of commissioners and, in a charter or unified county, the chief executive officer of the county in the manner authorized under the charter or by law, the county treasurer may provide by order that a reasonable excess amount shall be set aside in the note and interest redemption account from time to time so as to produce and provide a reserve to meet any possible future deficiencies, which reserve shall also be subject to the statutory lien.  (2) Revenues remaining, after satisfaction of subsection (1), at the end of any operating year shall be part of the surplus in the delinquent tax revolving fund which may be transferred to the county general fund as provided in section 87b(7) of the general property tax act, 1893 PA 206, MCL 211.87b. History: Add. 2016, Act 83, Imd. Eff. Apr. 12, 2016
MI Comp L § 141.123 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.123 - Appropriation and Use of Revenues for Payment of Operation and Maintenance Expenses; Appropriation and Use of Moneys Raised by Tax Levy.

141.123 Appropriation and use of revenues for payment of operation and maintenance expenses; appropriation and use of moneys raised by tax levy. Sec. 23.  The borrower may appropriate and use, and may covenant to appropriate and use, any part of its available income or revenues derived from any source other than from the operation of the public improvement in paying any expenses of operation or maintenance of the public improvement, but nothing in this act shall be construed to require the borrower to do so. Where the borrower is an authority incorporated under Act No. 31 of the Public Acts of the First Extra Session of 1948, as amended, being sections 123.951 to 123.965 of the Michigan Compiled Laws, any public corporation to which the public improvement or other property is leased by the authority may appropriate and use, and may covenant to appropriate and use, any part of its available income or revenues derived from any source other than from the operation of the public improvement or other property in paying any expenses of operation or maintenance of the public improvement or other property, but this act shall not be construed to require the public corporation to do so. The provisions of this act requiring the production, setting aside, and use of revenues for payment of operation and maintenance expenses shall be deemed to refer to such expenses, if any, which are in excess of any income or revenue appropriated and used as authorized in this section. Moneys raised by levy of taxes without limitation as to rate or amount in fulfillment of the pledge by a public corporation of its full faith and credit shall be appropriated only to the bond and interest redemption fund, and used only to pay principal of and interest on bonds. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.123 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974
MI Comp L § 141.124 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.124 - Money in Several Accounts of Public Improvement; Separate Deposit Account; Investment.

141.124 Money in several accounts of public improvement; separate deposit account; investment. Sec. 24.  (1) Money in the several accounts of the public improvement shall be deposited as designated by the governing body of the borrower. Money in the several accounts of the public improvement, except money in the bond and interest redemption account and money derived from the proceeds of sale of the bonds each of which shall be kept in a separate deposit account, may be kept in 1 deposit account. In that case the money in the combined deposit accounts shall be allocated on the books and records of the borrower to the various accounts in the manner provided in the authorizing ordinance. The governing body of the borrower may provide that the money in the several accounts of the public improvement may be kept in separate depository accounts. The money in the bond and interest redemption account shall be accounted for separately.  (2) Subject to the limitations and conditions provided in the authorizing ordinance, money in the several accounts of the public improvement may be invested in accordance with the public corporation's investment policy adopted by the legislative body or governing body of the public corporation under 1943 PA 20, MCL 129.91 to 129.96. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- Am. 1947, Act 204, Imd. Eff. June 13, 1947 ;-- CL 1948, 141.124 ;-- Am. 1960, Act 91, Eff. Aug. 17, 1960 ;-- Am. 1963, Act 192, Eff. Sept. 6, 1963 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978 ;-- Am. 1985, Act 26, Imd. Eff. May 31, 1985 ;-- Am. 1987, Act 263, Imd. Eff. Dec. 28, 1987 ;-- Am. 1988, Act 228, Eff. Oct. 1, 1988 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
MI Comp L § 141.124a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.124a - Deposit Accounts.

141.124a Deposit accounts.Sec. 24a.  Money in the several accounts of the delinquent tax system shall be deposited as designated by the county board of commissioners of the county. Money in the several accounts of the delinquent tax system, except money in the note and interest redemption account and money derived from the proceeds of sale of the notes each of which shall be kept in a separate deposit account, may be kept in 1 deposit account, provided, however, that only delinquent tax revenues of the delinquent tax systems shall be held in or credited to that deposit account and those funds and other property shall not be commingled with any other money of or in the custody of the county treasurer. In that case, the money in the combined deposit accounts shall be allocated on the books and records of the county treasurer to the various accounts in the manner provided in the authorizing order. The county treasurer of the county may provide that the money in the several accounts of the delinquent tax system be kept in separate depository accounts. The money in the note and interest redemption account shall be accounted for separately. History: Add. 2016, Act 83, Imd. Eff. Apr. 12, 2016
MI Comp L § 141.125 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.125 - Fixing Dates of Operating Year for Public Improvement.

141.125 Fixing dates of operating year for public improvement. Sec. 25.  The ordinance authorizing the issuance of such bonds shall fix the dates of the beginning and ending of the operating year for such public improvement, subject to the right of the department of treasury to require that it correspond with the fiscal year of the borrower. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.125 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983
MI Comp L § 141.126 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.126 - Receiving Fund Surplus; Deposit.

141.126 Receiving fund surplus; deposit. Sec. 26.  Any money remaining in the accounts of the public improvement at the end of any operating year, which under the provisions of section 22 shall be considered surplus, may be transferred to other accounts of the public improvement or may be used for the purpose or purposes as the governing body may determine to be for the best interests of the borrower, unless some other disposition shall have been made in the ordinance authorizing the issuance of bonds under this act. In the event that money of the public improvement is insufficient to provide for the current expenses of the operation and maintenance account or the bond and interest redemption account, any money or securities in other accounts of the public improvement shall be transferred first to the operation and maintenance account and second to the bond and interest redemption account to the extent of any deficits in those accounts. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- Am. 1947, Act 204, Imd. Eff. June 13, 1947 ;-- CL 1948, 141.126 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
MI Comp L § 141.127 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.127 - Issuance of Bonds by Public Corporation; Applicable Laws.

141.127 Issuance of bonds by public corporation; applicable laws. Sec. 27.  A public corporation issuing bonds under this act is subject to all of the following:  (a) If the public corporation issuing the bonds meets the requirements of qualified status under section 303(3) of the revised municipal finance act, 2001 PA 34, MCL 141.2303, the public corporation complies with section 319(1) of the revised municipal finance act, 2001 PA 34, MCL 141.2319.  (b) If the public corporation issuing the bonds does not meet the requirements of qualified status under section 303(3) of the revised municipal finance act, 2001 PA 34, MCL 141.2303, the public corporation meets the requirements of section 303(7) and (8) and section 319(2) of the revised municipal finance act, 2001 PA 34, MCL 141.2303 and 141.2319.  (c) Section 321 of the revised municipal finance act, 2001 PA 34, MCL 141.2321. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.127 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 1985, Act 26, Imd. Eff. May 31, 1985 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
MI Comp L § 141.128 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.128 - Effect of Approval Permitting Issuance of Bonds.

141.128 Effect of approval permitting issuance of bonds. Sec. 28.  Qualification or approval to issue obligations under the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, that permits the issuance of bonds under this act shall not be considered an approval of the legality of issuing bonds under this act. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.128 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
MI Comp L § 141.129 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.129 - Service Rates Not Subject to Supervision by State Agency.

141.129 Service rates not subject to supervision by state agency. Sec. 29.  Rates charged for the services furnished by any public improvement purchased, acquired, constructed, improved, enlarged, extended and/or repaired under the provisions of this act shall not be subject to supervision or regulation by any state bureau, board, commission or other like instrumentality or agency thereof. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1937, Act 246, Imd. Eff. July 21, 1937 ;-- Am. 1939, Act 34, Eff. Sept. 29, 1939 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.129
MI Comp L § 141.130 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.130 - Books of Record and Account; Annual Audit Report.

141.130 Books of record and account; annual audit report. Sec. 30.  (1) Any borrower issuing revenue bonds under this act shall install, maintain, and keep proper books of record and account, separate from other records and accounts of such borrower, in which full and correct entries shall be made of all dealings or transactions of or in relation to the properties, business, and affairs of the public improvement.   (2) Each public corporation shall file an audit report annually with the department of treasury within 6 months from the end of its fiscal year or as otherwise provided in the uniform budgeting and accounting act, 1968 PA 2, MCL 141.421 to 141.440a. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.130 ;-- Am. 1963, Act 192, Eff. Sept. 6, 1963 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
MI Comp L § 141.131 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.131 - Redemption of Bonds Before Maturity.

141.131 Redemption of bonds before maturity.  Sec. 31.  The governing body of the borrower authorizing bonds under this act may make provisions in the authorizing ordinance for the redemption before maturity of the bonds or a part of the bonds. In case of refunding, bonds of an issue less than all the outstanding bonds of the issue, shall not be called for redemption unless the borrower has on hand in its bond and interest redemption fund sufficient money to refund the bonds not otherwise appropriated or pledged, in excess of the amount of interest and principal maturing within the next 12 months from the redemption date. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.131 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978
MI Comp L § 141.132 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.132 - Breach of Contract Not Authorized; Pledging of Revenues; Disconnection of Lands Not to Affect Liability Under Bond Issue.

141.132 Breach of contract not authorized; pledging of revenues; disconnection of lands not to affect liability under bond issue. Sec. 32.  Nothing in this act shall be construed as authorizing any borrower to impair or commit a breach of the obligation of any valid lien or contract created or entered into by it, the intention hereof being to authorize the pledging, setting aside and segregation of gross revenues only where consistent with outstanding obligations of such borrower. The severance of any lands from the jurisdiction of the borrower subsequent to the issuance of bonds under this act, shall be subject to the obligations created by the issuance of such bonds. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- CL 1948, 141.132
MI Comp L § 141.133a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.133a - Validation of Bonds Heretofore Issued.

141.133a Validation of bonds heretofore issued. Sec. 33a.  All bonds heretofore issued under this act as originally adopted or subsequently amended are hereby validated. A public corporation shall not contest the validity of any such bonds after the bonds have been sold and delivered and the public corporation has received the consideration therefor. History: Add. 1974, Act 27, Imd. Eff. Feb. 26, 1974
MI Comp L § 141.133b (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.133b - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.

141.133b Violation of MCL 168.1 to 168.992 applicable to petitions; penalties. Sec. 33b.  A petition under section 33, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954 PA 116, MCL 168.488. A person who violates a provision of the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992, applicable to a petition described in this section is subject to the penalties prescribed for that violation in the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992. History: Add. 1998, Act 196, Eff. Mar. 23, 1999
MI Comp L § 141.134 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.134 - Liberal Construction of Act.

141.134 Liberal construction of act. Sec. 34.  This act, being necessary for and to secure the public health, safety, convenience and welfare of the counties, cities, incorporated villages, townships, school districts, port districts, and metropolitan districts of the state of Michigan, shall be liberally construed to effect the purposes hereof. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- CL 1948, 141.134
MI Comp L § 141.136 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.136 - Immediate Necessity.

141.136 Immediate necessity. Sec. 36.  This act, being necessary for and to secure the public health, safety, convenience and welfare of the counties, cities, incorporated villages, townships, school districts, port districts, and metropolitan districts of the state of Michigan, shall be given immediate effect. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- CL 1948, 141.136
MI Comp L § 141.137 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.137 - Condemnation of Property.

141.137 Condemnation of property. Sec. 37.  Public corporations shall have the right and power to condemn property for public improvements. In the condemnation of property, public corporations may proceed under any act applicable thereto, or they may invoke and proceed under the provisions of Act No. 149 of the Public Acts of 1911, as the same may from time to time exist, and in so doing shall have all the rights, powers and privileges granted to "public corporation" as defined in that act. History: Add. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.137 Compiler's Notes: For provisions of Act 149 of 1911, referred to in this section, see MCL 213.21 et seq.
MI Comp L § 141.138 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.138 - Trustee; Appointment; Powers and Duties; Pledging of Trust Funds.

141.138 Trustee; appointment; powers and duties; pledging of trust funds. Sec. 38.  An ordinance authorizing the issuance of bonds under this act may provide for the appointment of a trustee with the powers and duties prescribed in the ordinance in respect to the bonds and the payment and security of the bonds including provision that funds, including the proceeds of bonds, which are trust funds under the ordinance, may be held in trust by the trustee for the primary benefit and payment of the holders of the bonds. These trust funds may also be pledged by the trustee pursuant to the ordinance to an entity providing additional security for the bonds pursuant to section 7a(1)(a). History: Add. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.138 ;-- Am. 1985, Act 26, Imd. Eff. May 31, 1985
MI Comp L § 141.139 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.139 - Water Pollution; Prevention or Abatement; Public Corporation May Accept Grants or Aid From u.s. Government.

141.139 Water pollution; prevention or abatement; public corporation may accept grants or aid from U.S. government. Sec. 39.  Any public corporation is hereby authorized to apply for and accept grants or any other aid which the United States government or any agency thereof has authorized or may hereafter authorize to be given or made to the several states of the United States or to any political subdivisions or agencies thereof within the states for the construction of public improvements, including all necessary action preliminary thereto, the purpose of which is to aid in the prevention or abatement of water pollution. History: Add. 1949, Act 244, Eff. Sept. 23, 1949
MI Comp L § 141.140 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)|Section 141.140 - Allocation System for Private Activity Bonds; Establishment; Purpose; Applicability; Ratification of Prior Allocations; Revocation of Allocation; Applicability of Subsection (1).

 ***** 141.140 SUBSECTION (1) SHALL NOT APPLY AFTER DECEMBER 31, 1988: See (4) of 141.140 ***** 141.140 Allocation system for private activity bonds; establishment; purpose; applicability; ratification of prior allocations; revocation of allocation; applicability of subsection (1). Sec. 40.  (1) Until otherwise provided by law, the state treasurer may establish and maintain an allocation system for private activity bonds, which system shall be considered to provide, pursuant to the authority granted by section 146(e) of the internal revenue code, a different formula for allocating the state ceiling among governmental units of the state having the authority to issue bonds from the formula provided in the internal revenue code. The allocation system established by the state treasurer shall apply to allocations made against the unified volume limitation per calendar year 1988 and each year thereafter and for bonds issued after December 31, 1987, that have allocations ratified by subsection (2).  (2) An allocation made under executive orders 1984-11, 1985-7, 1986-6, and 1986-18 for bonds issued on or after January 1, 1988, shall be considered ratified and issued with an allocation authorized by this section unless the allocation issued pursuant to an executive order was a carryforward allocation for the state volume cap for any calendar year prior to 1986.  (3) An allocation made other than through orders issued pursuant to this section or executive orders 1984-11, 1985-7, 1986-6 and 1986-18 is revoked.  (4) Subsection (1) shall not apply after December 31, 1988. History: Add. 1987, Act 263, Imd. Eff. Dec. 28, 1987