reglab/housing_qa huggingface dataset:
MI Comp L § 141.382 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 121 of 1969 - Bonds or Notes for Capital Improvements (141.381 - 141.383)|Section 141.382 - Form and Execution of Bonds or Notes; Principal and Interest; Maximum Due in One Year; Due Dates; Tax Exemptions.

141.382 Form and execution of bonds or notes; principal and interest; maximum due in one year; due dates; tax exemptions. Sec. 2.  The bonds or notes authorized to be issued under this act shall be issued in the name of the county, city, township, or village and shall be executed in the manner provided by resolution of its legislative body. Bonds or notes issued under this act shall be negotiable instruments with the last maturity due not later than the year in which the final payment is due according to the contract of sale of capital assets. The maximum principal and interest falling due in any year shall not exceed income to be received during that year from the contract of sale of capital assets pledged for the payment of the bonds or notes plus any income due in prior years that will not be required for payment of principal or interest, or both, in prior years. The due date of principal and the first interest payment in each year shall be not less than 30 days subsequent to the estimated time of receipt of the payments on the contract for sale of capital assets pledged. The bonds and coupons and notes shall be exempt from taxation by this state or by any taxing authority within this state. History: 1969, Act 121, Imd. Eff. July 29, 1969 ;-- Am. 2002, Act 195, Imd. Eff. Apr. 29, 2002
MI Comp L § 141.383 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 121 of 1969 - Bonds or Notes for Capital Improvements (141.381 - 141.383)|Section 141.383 - Bonds or Notes Subject to MCL 141.2101 to 141.2821.

141.383 Bonds or notes subject to MCL 141.2101 to 141.2821. Sec. 3.  The bonds or notes shall be subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. History: 1969, Act 121, Imd. Eff. July 29, 1969 ;-- Am. 1983, Act 52, Imd. Eff. May 16, 1983 ;-- Am. 2002, Act 195, Imd. Eff. Apr. 29, 2002
MI Comp L § 141.401 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 60 of 1959 - Validation of Metropolitan District Bonds (141.401 - 141.401)|Section 141.401 - Metropolitan District Bonds; Assumption by Cities; Refunding Bonds.

141.401 Metropolitan district bonds; assumption by cities; refunding bonds. Sec. 1.  All bonds heretofore issued by metropolitan districts of the state of Michigan and heretofore assumed by cities in the state of Michigan are hereby ratified, validated and confirmed notwithstanding any defects in the organization of any such metropolitan districts or in the proceedings authorizing the issuance and sale of such bonds, and the assumption of such bonds by cities is hereby ratified, validated and confirmed and such bonds are hereby declared to be the valid and legally binding obligations of such cities notwithstanding any defects in the proceedings pertaining to the assumption of such bonds by such cities, and notwithstanding the failure by such cities to comply with any prescribed statutory conditions to the assumption of such bonds; and all such cities are hereby authorized to issue general obligation bonds to refund such bonds at their stated maturity or at any redemption date. History: 1959, Act 60, Imd. Eff. June 5, 1959
MI Comp L § 141.411 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 43 of 1963 (2nd Ex. Sess.) - Budget Hearings of Local Governments (141.411 - 141.415)|Section 141.411 - Local Unit of Government; Definition.

141.411 Local unit of government; definition.  Sec. 1.  As used in this act "local unit" means a county, township, city, village, authority or school district empowered by the constitution or by law to prepare budgets of estimated expenditures and revenues. History: 1963, 2nd Ex. Sess., Act 43, Imd. Eff. Dec. 27, 1963
MI Comp L § 141.412 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 43 of 1963 (2nd Ex. Sess.) - Budget Hearings of Local Governments (141.411 - 141.415)|Section 141.412 - Local Unit of Government; Public Hearing on Proposed Budget; Notice.

141.412 Local unit of government; public hearing on proposed budget; notice. Sec. 2.  A local unit shall hold a public hearing on its proposed budget. The local unit shall give notice of the hearing by publication in a newspaper of general circulation within the local unit at least 6 days before the hearing. The notice shall include the time and place of the hearing and shall state the place where a copy of the budget is available for public inspection. The notice shall also include the following statement printed in 11-point boldfaced type: "The property tax millage rate proposed to be levied to support the proposed budget will be a subject of this hearing.".  History: 1963, 2nd Ex. Sess., Act 43, Imd. Eff. Dec. 27, 1963 ;-- Am. 1995, Act 40, Imd. Eff. May 22, 1995
MI Comp L § 141.413 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 43 of 1963 (2nd Ex. Sess.) - Budget Hearings of Local Governments (141.411 - 141.415)|Section 141.413 - Local Unit of Government; Final Adoption of Budget; Hearing; Exception.

141.413 Local unit of government; final adoption of budget; hearing; exception.Sec. 3.  Each local unit shall hold such public hearing prior to final adoption of its budget. Except for a local unit that has a fiscal year that begins before the convening of the county tax allocation board, a local unit that submits its budget to a county tax allocation board shall hold such hearing after its tax rate allocation has been fixed by such board. History: 1963, 2nd Ex. Sess., Act 43, Imd. Eff. Dec. 27, 1963 ;-- Am. 2006, Act 154, Eff. Mar. 30, 2007
MI Comp L § 141.414 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 43 of 1963 (2nd Ex. Sess.) - Budget Hearings of Local Governments (141.411 - 141.415)|Section 141.414 - Local Unit of Government; Changes in Budget.

141.414 Local unit of government; changes in budget. Sec. 4.  Changes made in its budget by the governing body of a local unit subsequent to such public hearing shall not affect the validity of such budget. History: 1963, 2nd Ex. Sess., Act 43, Imd. Eff. Dec. 27, 1963
MI Comp L § 141.415 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 43 of 1963 (2nd Ex. Sess.) - Budget Hearings of Local Governments (141.411 - 141.415)|Section 141.415 - Local Unit of Government; Public Hearing on Budget, Charter, Statute.

141.415 Local unit of government; public hearing on budget, charter, statute. Sec. 5.  Local units which provide for a public hearing before adoption of their budgets either in pursuance of charter provision or law shall hold a public hearing in accordance with such provision of charter or law which shall be deemed to be in a manner prescribed by law. History: 1963, 2nd Ex. Sess., Act 43, Imd. Eff. Dec. 27, 1963
MI Comp L § 141.421a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.421a - Short Title.

141.421a Short title. Sec. 1a.  This act shall be known and may be cited as the "uniform budgeting and accounting act". History: Add. 1978, Act 621, Eff. Apr. 1, 1980
MI Comp L § 141.422 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.422 - Meanings of Words and Phrases.

141.422 Meanings of words and phrases. Sec. 2.  For the purposes of this act, the words and phrases defined in sections 2a to 2d have the meanings ascribed to them in those sections. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968 ;-- Am. 1978, Act 621, Eff. Apr. 1, 1980
MI Comp L § 141.422a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.422a - Definitions; A, B.

141.422a Definitions; A, B. Sec. 2a.  (1) "Administrative officer" means an individual employed or otherwise engaged by a local unit to supervise a budgetary center.  (2) "Allotment" means a portion of an appropriation which may be expended or encumbered during a certain period of time.  (3) "Appropriation" means an authorization granted by a legislative body to incur obligations and to expend public funds for a stated purpose.  (4) "Budget" means a plan of financial operation for a given period of time, including an estimate of all proposed expenditures from the funds of a local unit and the proposed means of financing the expenditures. Budget does not include any of the following:  (a) A fund for which the local unit acts as a trustee or agent.  (b) An internal service fund.  (c) An enterprise fund.  (d) A capital project fund.  (e) A debt service fund. History: Add. 1978, Act 621, Eff. Apr. 1, 1980 ;-- Am. 2000, Act 493, Imd. Eff. Jan. 11, 2001
MI Comp L § 141.422c (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.422c - Definitions; E to G.

141.422c Definitions; E to G. Sec. 2c.  (1) "Expenditure" means the cost of goods delivered or services rendered, whether paid or unpaid, including expenses, debt retirement not reported as a liability of the fund from which retired, or capital outlay.  (2) "General appropriations act" means the budget as adopted by the legislative body or as otherwise given legal effect pursuant to a charter provision in effect on the effective date of this section. History: Add. 1978, Act 621, Eff. Apr. 1, 1980 ;-- Am. 2000, Act 493, Imd. Eff. Jan. 11, 2001
MI Comp L § 141.422d (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.422d - Definitions; D to S.

141.422d Definitions; D to S. Sec. 2d.  (1) "Depository library" means a depository library designated under section 10 of the library of Michigan act, 1982 PA 540, MCL 397.20.  (2) "Legislative body" means any of the following:  (a) The council, commission, or other entity vested with the legislative power of a village.  (b) The council or other entity vested with the legislative power of a city.  (c) The board of education of a local school district.  (d) The board of education of an intermediate school district.  (e) The township board of a township.  (f) The county board of commissioners of a county.  (g) The board of county road commissioners of a county.  (h) The board of directors of a public school academy established under part 6a of the revised school code, 1976 PA 451, MCL 380.501 to 380.507.  (i) The official body to which is granted general governing powers over an authority or organization of government established by law that may expend funds of the authority or organization. As used in this act, legislative body does not include an intermunicipality committee established under 1957 PA 200, MCL 123.631 to 123.637.  (3) "Library of Michigan" means the library of Michigan created under section 3 of the library of Michigan act, 1982 PA 540, MCL 397.13.  (4) "Local unit" does not include an intermunicipality committee established under 1957 PA 200, MCL 123.631 to 123.637. Except as used in sections 14 to 20a, local unit means a village, city, or township or an authority or commission established by a county, village, city, or township resolution, motion, ordinance, or charter. As used in sections 14 to 20a, local unit means any of the following:  (a) A village.  (b) A city.  (c) A school district.  (d) An intermediate school district.  (e) A public school academy established under part 6a of the revised school code, 1976 PA 451, MCL 380.501 to 380.507.  (f) A township.  (g) A county.  (h) A county road commission.  (i) An authority or organization of government established by law that may expend funds of the authority or organization.  (5) "Revenue" means an addition to the assets of a fund that does not increase a liability, does not represent the recovery of an expenditure, does not represent the cancellation of a liability without a corresponding increase in any other liability or a decrease in assets, and does not represent a contribution of fund capital in enterprise or in internal service funds.  (6) "Surplus" means an excess of the assets of a fund over its liabilities and reserves. History: Add. 1978, Act 621, Eff. Apr. 1, 1980 ;-- Am. 1981, Act 78, Imd. Eff. June 30, 1981 ;-- Am. 1996, Act 401, Eff. Dec. 18, 1996 ;-- Am. 1999, Act 142, Imd. Eff. Oct. 22, 1999 ;-- Am. 2000, Act 493, Imd. Eff. Jan. 11, 2001
MI Comp L § 141.423 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.423 - Publication; Hearings.

141.423 Publication; hearings. Sec. 3.  The state treasurer, before the adoption of a uniform chart of accounts, shall provide for advance publication and for hearings thereon with an advisory committee selected by the state treasurer from the local units and from other interested or concerned groups. The uniform chart of accounts, when finally adopted, shall be published and made readily available to all interested persons. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968
MI Comp L § 141.424a (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.424a - Failure of Local Unit to Report Investments in Derivative Instruments or Products.

141.424a Failure of local unit to report investments in derivative instruments or products. Sec. 4a.  (1) If a local unit fails to report investments in derivative instruments or products as required by section 4, the state treasurer may determine that the local unit cannot report the investments without assistance, advice, or instruction from the state treasurer. The state treasurer shall submit a written statement of the findings and recommendations to the legislative body of the local unit. Within 90 days after receipt of this statement, the local unit shall retain a certified public accountant or the state treasurer to report the investments in the manner required in section 4 and shall notify, by resolution of the legislative body, the state treasurer of the action. Upon failure of the local unit to respond within the 90-day period, the state treasurer shall report the investments.  (2) The state treasurer shall charge reasonable and necessary expenses, including per diem and travel expenses, to the local unit for services performed pursuant to subsection (1) and the local unit shall pay the state treasurer for these expenses. For payment of the expenses, the state treasurer shall either execute a contract with the local unit or bill the local unit on a monthly basis. History: Add. 1996, Act 400, Eff. Dec. 18, 1996
MI Comp L § 141.424b (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.424b - Schedule of Derivative Instruments and Products; Filing Copies; Library of Michigan and Depository Libraries as Depositories; Retention of Annual Report by Local Unit.

141.424b Schedule of derivative instruments and products; filing copies; Library of Michigan and depository libraries as depositories; retention of annual report by local unit. Sec. 4b.  (1) The state treasurer shall promptly file with the library of Michigan copies of a schedule of derivative instruments and products described in section 4(2)(c) or (e) and obtained under section 4 or section 4a. The treasurer shall file a sufficient number of copies to deposit 1 copy in the library of Michigan and 1 copy in each depository library.  (2) The library of Michigan and depository libraries shall serve as depositories for schedules of derivative instruments and products described in section 4(2)(c) or (e) in the manner required by sections 9 and 10 of the library of Michigan act, Act No. 540 of the Public Acts of 1982, being sections 397.19 and 397.20 of the Michigan Compiled Laws. The library of Michigan and each depository library shall promptly make a schedule of derivative instruments and products described in section 4(2)(c) or (e) available to the public.  (3) A local unit shall obtain and retain a copy of an annual financial report submitted under this act. A local unit or the state treasurer shall make an annual financial report prepared, owned, used, in the possession of, or retained by the local unit or state treasurer available for public inspection under the freedom of information act, Act No. 442 of the Public Acts of 1976, being sections 15.231 to 15.246 of the Michigan Compiled Laws.  History: Add. 1996, Act 401, Eff. Dec. 18, 1996 Compiler's Notes: For transfer of powers and duties of library of Michigan and state librarian, except pertaining to services for blind and physically handicapped and those related to census data functions, to department of education, see E.R.O. No. 2009-26, compiled at MCL 399.752.
MI Comp L § 141.425 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.425 - Local Units; Audits.

141.425 Local units; audits. Sec. 5.  (1) A local unit having a population of less than 4,000 shall obtain an audit of its financial records, accounts, and procedures not less frequently than biennially. However, if any audit under this subsection discloses a material deviation by the local unit from generally accepted accounting practices or from applicable rules and regulations of a state department or agency or discloses any fiscal irregularity, defalcation, misfeasance, nonfeasance, or malfeasance, the department of treasury may require an audit to be conducted in the next year.  (2) A local unit having a population of 4,000 or more shall obtain an annual audit of its financial records, accounts, and procedures. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968 ;-- Am. 1996, Act 146, Imd. Eff. Mar. 25, 1996
MI Comp L § 141.426 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.426 - Certified Public Accountants; Cost.

141.426 Certified public accountants; cost.  Sec. 6.  Local units may retain certified public accountants to perform such audits. If any unit fails to provide for an audit, the state treasurer shall either conduct the audit or appoint a certified public accountant to perform it. The entire cost of any such audits will be borne by the local unit. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968
MI Comp L § 141.427 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.427 - Minimum Auditing Procedures and Standards; Form for Report of Auditing Procedures; Filing Audit Report and Report of Auditing Procedures; Time for Filing; Extension.

141.427 Minimum auditing procedures and standards; form for report of auditing procedures; filing audit report and report of auditing procedures; time for filing; extension. Sec. 7.  (1) The state treasurer shall prescribe minimum auditing procedures and standards and these shall conform as nearly as practicable to generally accepted auditing standards established by the American institute of certified public accountants.  (2) A report of the auditing procedures applied in each audit shall be prepared on a form provided for this purpose by the state treasurer. The state treasurer may require that the audit report, or the report of auditing procedures, or both, that are required by this subsection to be filed with the state treasurer be filed in an electronic format prescribed by the state treasurer.  (3) One copy of every audit report and 1 copy of the report of auditing procedures applied shall be filed with the state treasurer.  (4) The copy of the audit report and the copy of the report of auditing procedures applied required by subsection (3) shall be filed with the state treasurer within 6 months after the end of the fiscal year of a local unit for which an audit has been performed pursuant to section 5. The chief administrative officer of a local unit may request an extension of the filing date from the state treasurer, and the state treasurer may grant the request for reasonable cause. A chief administrative officer who requests an extension under this subsection shall, within 10 days of making the request, inform the governing body in writing of the requested extension. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968 ;-- Am. 1982, Act 451, Imd. Eff. Dec. 30, 1982 ;-- Am. 2000, Act 493, Imd. Eff. Jan. 11, 2001
MI Comp L § 141.428 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.428 - Contents of Audit Report.

141.428 Contents of audit report. Sec. 8.  Every audit report shall do all of the following:  (a) State that the audit has been conducted in accordance with generally accepted auditing standards and with the standards prescribed by the state treasurer.  (b) State that financial statements in such reports have been prepared in accordance with generally accepted accounting principles and with applicable rules and regulations of any state department or agency. Any deviations from such principles, rules, or regulations shall be described.  (c) Disclose any material deviations by the local unit from generally accepted accounting practices or from applicable rules and regulations of any state department or agency.  (d) Disclose any fiscal irregularities, including but not limited to any deviations from the requirements of section 4; defalcations; misfeasance; nonfeasance; or malfeasance that came to the auditor's attention. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968 ;-- Am. 1996, Act 400, Eff. Dec. 18, 1996 ;-- Am. 2000, Act 493, Imd. Eff. Jan. 11, 2001
MI Comp L § 141.429 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.429 - Public Inspection of Audit Reports.

141.429 Public inspection of audit reports.  Sec. 9.  All audit reports submitted under this act shall be made available for public inspection. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968
MI Comp L § 141.430 (2021)
2021 Michigan Compiled Laws|Chapter 141 - Municipal Financing|Act 2 of 1968 - Uniform Budgeting and Accounting Act (141.421 - 141.440a)|Section 141.430 - Orders and Subpoenas.

141.430 Orders and subpoenas. Sec. 10.  In connection with any audit and examination conducted under the provisions of this act, the state treasurer, or a deputy state treasurer, may issue subpoenas, direct the service thereof by any police officer, and compel the attendance and testimony of witnesses, may administer oaths and examine such persons as may be necessary, and may compel the production of books and papers. The orders and subpoenas issued by the state treasurer or by a deputy state treasurer, in pursuance of the authority in them vested by provisions of this section, may be enforced upon their application to any circuit court by proceedings in contempt therein, as provided by law. History: 1968, Act 2, Imd. Eff. Feb. 20, 1968