reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 14 of 1926 (Ex. Sess.) - Sinking Fund for Public Buildings (141.51 - 141.55) › Section 141.54 - Ballots; Form, Contents, Distribution, Counting; Authorizing Vote; Levy.

141.54 Ballots; form, contents, distribution, counting; authorizing vote; levy.
Sec. 4.
It shall be the duty of the board of election commissioners of such county to prepare the necessary ballots for the use of the electors in voting upon the question referred to in this act. The said question shall be printed upon a ballot separate and distinct from all other ballots, which ballot shall be in the following form: Instruction to Voter.
Mark a cross in the square to the left of the word "Yes" or "No."
"To authorize the board of supervisors to levy a tax of ..... each year for a period of ..... years, to create a sinking fund to be used for .......................................................................................
.................................................. [ ]"Yes".
.................................................. [ ]"No".
There shall be inserted in the above blanks the amount of the tax to be assessed each year, not exceeding 2 mills in any case, the number of years for which the tax is to be levied and the purpose for which the sinking fund to be created shall be used. The ballots so prepared shall be distributed by the board of election commissioners within the same time and in the same manner that ballots are distributed prior to a general election. All ballots upon which an elector marks a cross in the square to the left of the word "Yes," shall be counted in favor of levying the tax stated in the resolution of the board of supervisors, and all ballots upon which an elector marks a cross in the square to the left of the word "No", shall be counted against the question of levying the tax stated in the resolution of the board of supervisors. All ballots cast at any election on such question, shall be received, counted, canvassed and returned in the manner now governing for the election of county officers. If at any election a majority of the electors voting on such question shall decide in favor of authorizing the board of supervisors to levy the tax in the amount and for the period of years set forth in said resolution, it shall be the duty of the board of supervisors to levy said tax, commencing with the next annual tax roll following said election and continuing for the full period of years as set forth in said resolution.
History:
1926, Ex. Sess., Act 14, Imd. Eff. Mar. 13, 1926 ;-- CL 1929, 1259 ;-- CL 1948, 141.54
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 14 of 1926 (Ex. Sess.) - Sinking Fund for Public Buildings (141.51 - 141.55) › Section 141.55 - Sinking Fund Control.

141.55 Sinking fund control.
Sec. 5.
The sinking fund to be created under the provisions of this act shall be under the control of the board of county sinking fund commissioners provided by Act No. 42 of the Public Acts of 1913, the same being sections 2386 to 2396 of the Compiled Laws of 1915, or provided by Act No. 161 of the Public Acts of 1923, subject to the supervision and direction of the board of supervisors.
History:
1926, Ex. Sess., Act 14, Imd. Eff. Mar. 13, 1926 ;-- CL 1929, 1260 ;-- CL 1948, 141.55
Compiler's Notes:
For provisions of Act 42 of 1913, referred to in this section, see MCL 141.11 et seq. For provisions of Act 161 of 1923 , also referred to in this section, see MCL 141.31 et seq.
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.61 - Borrowing Money for Permanent Improvements; Issuance, Sale, and Payment of Bonds.

141.61 Borrowing money for permanent improvements; issuance, sale, and payment of bonds.
Sec. 1.
When the county board of commissioners of any county within this state considers it expedient for the county or its lawful officers, agents, and servants to make or cause to be made any permanent improvement or improvements in or additions to or about roads, highways, bridges, boulevards, parks, buildings, courthouses, infirmaries, sanatoria, or any other permanent improvements, authorized by law, relating to county property or to public property under the control or management of county authorities, the county board of commissioners may, by resolution of a majority of the members-elect, authorize and direct the borrowing on the faith and credit of the county of the sums of money as in the judgment of the board may be needed, subject to the constitutional limitations upon county indebtedness, and the county board of commissioners may, in the resolution, authorize and direct the issue and sale of bonds of the county to secure the repayment of the sums borrowed, which bonds shall be paid from taxes levied without limitation as to rate or amount to the extent necessary for the repayment of the bonds. For any permanent improvement that may lawfully be made by the county authorities on the faith and credit of the county, the bonds of the county may be issued and sold to raise the money to pay for the improvement, or the bonds may be issued and negotiated to secure the payment of indebtedness incurred in making the permanent improvements. The bonds issued under this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- CL 1929, 2347 ;-- Am. 1941, Act 282, Eff. Jan. 10, 1942 ;-- CL 1948, 141.61 ;-- Am. 1973, Act 123, Imd. Eff. Aug. 21, 1973 ;-- Am. 2002, Act 286, Imd. Eff. May 9, 2002
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.61a - Constructing, Equipping, or Making Alterations in Public Buildings; Authorization of Expenditures.

141.61a Constructing, equipping, or making alterations in public buildings; authorization of expenditures.
Sec. 1a.
The county board of commissioners without submitting the same to the vote of the electors may authorize annually the expenditure of any funds on hand not raised by taxation for the purpose of constructing, equipping, or making alterations in any of the public buildings in the county if the county board of commissioners shall by resolution of a majority of the total membership of the board authorize the same.
History:
Add. 1941, Act 282, Eff. Jan. 10, 1942 ;-- CL 1948, 141.61a ;-- Am. 1957, Act 186, Imd. Eff. June 4, 1957 ;-- Am. 1973, Act 123, Imd. Eff. Aug. 21, 1973 ;-- Am. 1975, Act 162, Imd. Eff. July 14, 1975
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.62 - Board's Resolution; Contents; Referendum.

141.62 Board's resolution; contents; referendum.
Sec. 2.
The resolution of the board of supervisors shall contain a proviso that it shall not become effective or binding upon the county until it shall be approved by a majority of the electors voting at an election to be designated. The board of supervisors may submit the question of the issue and sale of said bonds at any regular election held under the general laws of the state of Michigan at which the electors of the entire county vote, or it may designate a special election to be called by the county clerk by direction of said board of supervisors for the purpose of submitting to the electors the question of issuing said bonds. The board of supervisors may call a special election for the purposes of this act upon a date coincident with any local or municipal election or primary election for any portion of the county.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- CL 1929, 2348 ;-- CL 1948, 141.62
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.63 - Board's Resolution; Required Notices; Election Procedure; Construed.

141.63 Board's resolution; required notices; election procedure; construed.
Sec. 3.
The county clerk shall, at least 30 days before any election at which the electors are to vote on any county bond issue, serve a copy of said resolution on the sheriff of the county and the sheriff shall, at least 20 days before said election, cause to be posted in 2 of the most public and conspicuous places in each election precinct or district in the county notices of said election containing the full text of the resolution aforesaid. The county clerk shall also cause to be published in at least 1 newspaper having a general circulation in the county, one published in the county, if such there be, a like notice for 3 successive weeks immediately prior to said election. The county clerk shall also cause to be served on the clerk of each city, village and township a copy of said resolution, at least 30 days before the time fixed for the holding of said election. All municipal and township authorities shall take such action relating to said election as shall be necessary to provide for the holding thereof but no election called under the provisions of this act shall be construed as a special municipal election within the limitations of Act No. 278 or Act No. 279 of the Public Acts of 1909 and amendments thereto. The notice required to be posted by the sheriff and published by the county clerk shall be deemed sufficient notice of said election. All elections herein provided for shall be conducted, all votes shall be received and counted, and all returns shall be made in accordance with the general election laws of the state of Michigan, unless herein otherwise provided: Provided, Where in any bond issues heretofore approved, the giving and posting of the notices required by this section have been made in accordance with the provisions of Act No. 351 of the Public Acts of 1925, rather than as heretofore provided for in this section, the said bond issues and all bonds issued thereunder are hereby validated, approved and confirmed as to the giving and posting of such notices.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- Am. 1929, Act 243, Imd. Eff. May 22, 1929 ;-- CL 1929, 2349 ;-- CL 1948, 141.63
Compiler's Notes:
For provisions of Act 278 of 1909 and Act 279 of 1909, referred to in this section, see MCL 78.1 et seq. and MCL 117.1 et seq., respectively. Act 351 of 1925, also referred to in this section, was repealed by Act 116 of 1954. See now MCL 168.1 et seq.
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.64 - Election Returns; Certificate, Recording; Authorized Acts.

141.64 Election returns; certificate, recording; authorized acts.
Sec. 4.
When the returns from the election herein provided for shall show that a majority of the electors of the county voting thereon have approved the resolution of the board of supervisors aforesaid, the county clerk shall make a certificate to this effect and shall record the same with the official record of the proceedings of the board of supervisors and thereupon said resolution shall become and be effective and binding upon the county, its officers, agents, servants and electors, and the authority delegated to and the duties imposed upon officers, agents and servants shall attach to and become and be binding upon such officers, agents and servants of the county and all who deal with them as representatives of the county; and all things provided for in said resolution may be done for, on behalf of, and on account of said county.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- CL 1929, 2350 ;-- CL 1948, 141.64
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.65 - Provisions Cumulative; Election.

141.65 Provisions cumulative; election.
Sec. 5.
This act and the powers and authority hereby granted shall be deemed cumulative and confirmatory of powers heretofore or hereafter granted to counties to borrow money or incur obligations for county purposes or issue bonds of the county or contract to secure repayment of moneys borrowed. If provision was heretofore or hereafter made for borrowing money, incurring obligations, or issuing bonds by counties, those provisions or the provisions of this act may be followed at the election of county authorities.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- CL 1929, 2351 ;-- CL 1948, 141.65 ;-- Am. 1973, Act 123, Imd. Eff. Aug. 21, 1973 ;-- Am. 1975, Act 162, Imd. Eff. July 14, 1975
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 118 of 1923 - Permanent Improvements by Counties (141.61 - 141.66) › Section 141.66 - Validation Clause.

141.66 Validation clause.
Sec. 6.
Nothing in this act shall invalidate any bonds heretofore authorized or any proceedings heretofore taken to authorize the issuance of bonds by any county of the state, but all proceedings and elections heretofore since January 1, 1920, taken and held to authorize the issuance of bonds of any county, and all bonds heretofore issued under authority of a vote of a majority of the electors in said county, voting upon the question at an election held for that purpose are hereby validated, approved and confirmed.
History:
1923, Act 118, Eff. Aug. 30, 1923 ;-- CL 1929, 2352 ;-- CL 1948, 141.66
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 28 of 1911 - Public Buildings and Bridges (141.71 - 141.74) › Section 141.71 - Tax for Sites, Construction, or Repair of Public Buildings or Bridges; Limitations; Bonds Subject to Revised Municipal Finance Act.

141.71 Tax for sites, construction, or repair of public buildings or bridges; limitations; bonds subject to revised municipal finance act.
Sec. 1.
(1) The county board of commissioners of a county may, subject to the limitations provided in the property tax limitation act, 1933 PA 62, MCL 211.201 to 211.217a, in any 1 year levy a tax for purchase of real estate for sites for, and the construction or repair of public buildings or bridges. The foregoing limitations shall not apply to taxes imposed for the payment of principal and interest on bonds or other evidences of indebtedness or for the payment of assessments or contract obligations in anticipation of which bonds are issued, which taxes may be imposed without limitation as to rate or amount and in addition to any other taxes, even though the bonds or other evidences of indebtedness were issued for the foregoing purposes.
(2) Bonds issued under this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
History:
1911, Act 28, Eff. Aug. 1, 1911 ;-- CL 1915, 2306 ;-- Am. 1919, Act 40, Imd. Eff. Mar. 31, 1919 ;-- CL 1929, 2353 ;-- CL 1948, 141.71 ;-- Am. 1973, Act 125, Imd. Eff. Aug. 22, 1973 ;-- Am. 2002, Act 338, Imd. Eff. May 23, 2002
Former Law:
See Act 41 of 1909.
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 28 of 1911 - Public Buildings and Bridges (141.71 - 141.74) › Section 141.72 - Board of Supervisors; Excess Sums; Referendum, Procedure.

141.72 Board of supervisors; excess sums; referendum, procedure.
Sec. 2.
Whenever the board of supervisors of any county shall by resolution vote in favor of levying a tax or borrowing money in excess of the amounts prescribed in section 1 of this act, the question of levying or borrowing such sum shall be submitted to the electors of the county at the general November election, or the biennial spring election, or at an election to be held on the first Monday in April subsequent to the passage of such resolution by the board of supervisors. A copy of such resolution shall be served upon the sheriff of the county by the county clerk. It shall be the duty of the sheriff at least 20 days prior to the date of the election, at which such question shall be submitted to the electors, to cause to be delivered to the township clerk in each township, and to the chairman of the board of election inspectors in each ward in any city in his county, a notice in writing that at such election there will be submitted to the electors of such county the question of raising the amount prescribed in the resolution passed by the board of supervisors, and cause the same to be published in 1 or more newspapers printed and circulating in said county, if 1 be printed and circulated therein, at least 2 consecutive weeks before said election.
History:
1911, Act 28, Eff. Aug. 1, 1911 ;-- CL 1915, 2307 ;-- CL 1929, 2354 ;-- CL 1948, 141.72
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 28 of 1911 - Public Buildings and Bridges (141.71 - 141.74) › Section 141.73 - Notice of Election; Posting.

141.73 Notice of election; posting.
Sec. 3.
It shall be the duty of the township clerk or chairman of the board of election inspectors, upon receipt of the notice herein required, to give notice in writing under his hand of the time and place when such question will be submitted to the electors. Such township clerk or chairman of the board of election inspectors shall cause such notice to be posted up in at least 5 of the most public places in the said township or ward, at least 10 days before said election.
History:
1911, Act 28, Eff. Aug. 1, 1911 ;-- CL 1915, 2308 ;-- CL 1929, 2355 ;-- CL 1948, 141.73
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 28 of 1911 - Public Buildings and Bridges (141.71 - 141.74) › Section 141.74 - Ballots; Form, Distribution, Counting; Authorizing Vote, Effect.

141.74 Ballots; form, distribution, counting; authorizing vote, effect.
Sec. 4.
It shall be the duty of the board of election commissioners of such county to prepare the necessary ballots for use of the electors in voting upon the question referred to in this act. The said question shall be printed upon a ballot separate and distinct from all other ballots, which ballot shall be in the following form: Instruction to Voter.
Mark a cross in the square to the left of the word "Yes" or "No."
To authorize the board of supervisors to borrow $....................
[ ] Yes.
To authorize the board of supervisors to borrow $....................
[ ] No.
There shall be inserted in the above blank the amount set forth in the resolution of the board of supervisors. The ballots so prepared shall be distributed by the board of election commissioners within the same time and in the same manner that ballots are distributed prior to a general election. All ballots upon which an elector marks a cross in the square to the left of the word "Yes" shall be counted in favor of raising the amount stated in the resolution of the board of supervisors, and all ballots upon which an elector marks a cross in the square to the left of the word "No" shall be counted against the question of raising the amount set forth in the resolution of the board of supervisors. All ballots cast at any election on such question, shall be received, counted, canvassed and returned in the manner now governing for the election of county officers. If at any such election a majority of the electors voting on such question shall decide in favor of authorizing the board of supervisors to raise the amount set forth in said resolution, such amount may be borrowed in the same manner as the amounts referred to in section 1 of this act may be borrowed in the 1st instance.
History:
1911, Act 28, Eff. Aug. 1, 1911 ;-- CL 1915, 2309 ;-- CL 1929, 2356 ;-- CL 1948, 141.74
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Repealed - Act 12 of 1932 (1st Ex. Sess.) - Fire, Flood, or Other Calamity (141.81 - 141.83)

FIRE, FLOOD, OR OTHER CALAMITY
Act 12 of 1932 (1st Ex. Sess.)
141.81-141.83 Repealed. 1962, Act 81, Eff. Mar. 28, 1963.
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 243 of 1964 - Prohibited Taxes by Cities and Villages (141.91 - 141.91) › Section 141.91 - Cities and Villages, Prohibited Taxes.

141.91 Cities and villages, prohibited taxes.
Sec. 1.
Except as otherwise provided by law and notwithstanding any provision of its charter, a city or village shall not impose, levy or collect a tax, other than an ad valorem property tax, on any subject of taxation, unless the tax was being imposed by the city or village on January 1, 1964.
History:
1964, Act 243, Eff. Aug. 28, 1964
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.101 - Short Title; Revenue Bond Act of 1933.

141.101 Short title; revenue bond act of 1933.
Sec. 1.
This act shall be known and may be cited as "the revenue bond act of 1933."
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1935, Act 66, Imd. Eff. May 17, 1935 ;-- Am. 1939, Act 2, Imd. Eff. Feb. 15, 1939 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.101
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.102 - Construction of Act.

141.102 Construction of act.
Sec. 2.
This act shall be construed as cumulative authority for the exercise of the powers herein granted and shall not be construed to repeal any existing laws with respect thereto, it being the purpose and intention of this act to create full and complete additional and alternate methods for the exercise of such powers. The powers conferred by this act shall not be affected or limited by any other statute or by any charter, except as otherwise herein provided. The functions, powers and duties of the state commissioner of health in connection with any such public improvement shall remain unaffected by this act.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.102
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.104 - Municipal Public Improvements; Limitations; Bonds; Acquiring Utility for Supplying Light, Heat or Power; Referendum; Powers Exercised.

141.104 Municipal public improvements; limitations; bonds; acquiring utility for supplying light, heat or power; referendum; powers exercised.
Sec. 4.
Any public corporation is authorized to purchase, acquire, construct, improve, enlarge, extend or repair 1 or more public improvements and to own, operate and maintain the same, within or without its corporate limits, and to furnish the services, facilities and commodities of any such public improvement to users within or without its corporate limits. The exercise by any public corporation of such powers outside its corporate limits shall be subject to the legal rights of the political subdivision within which such powers are to be exercised and shall also be subject to any and all constitutional and statutory provisions relating thereto. The authority herein granted shall be further limited as follows:
(a) No public corporation shall establish warehouses for the purpose of storing or dispensing alcoholic beverages.
(b) School districts shall be limited to such public improvements as are within the scope of their powers under other statutory provisions.
(c) Port districts shall be limited to such public improvements as are within the scope of their powers under acts creating the same.
(e) No public corporation may acquire a utility for the supplying of light, heat or power unless such proposition shall have first received the affirmative vote of 3/5 of the electors of such public corporation voting thereon at a regular or special municipal election.
The powers in this act granted may be exercised notwithstanding that no bonds are issued hereunder.
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, 141.104 ;-- Am. 1954, Act 136, Eff. Aug. 13, 1954 ;-- Am. 1966, Act 179, Imd. Eff. July 1, 1966
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.105 - Estimate of Cost and Period of Usefulness.

141.105 Estimate of cost and period of usefulness.
Sec. 5.
Whenever the governing body of any public corporation shall determine to purchase, acquire, construct, improve, enlarge, extend and/or repair any public improvement and to issue bonds under this act, it shall first cause an estimate to be made of the cost and the period of usefulness thereof, and the fact that such estimate has been made and the amount and period of time thereof shall appear in the ordinance authorizing and providing for the issuance of the bonds.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1935, Act 66, Imd. Eff. May 17, 1935 ;-- Am. 1939, Act 2, Imd. Eff. Feb. 15, 1939 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.105 ;-- Am. 1949, Act 244, Eff. Sept. 23, 1949
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.106 - Ordinances; Adoption; Purpose; Approval or Disapproval; Veto; Effective Date; Referendum; Record; Authentication; Publication.

141.106 Ordinances; adoption; purpose; approval or disapproval; veto; effective date; referendum; record; authentication; publication.
Sec. 6.
The governing body of a public corporation by the affirmative vote of a majority of its elected members, at the meeting at which it is introduced or any subsequent meeting, may adopt an ordinance relating to the exercise of the powers granted in this act and to other matters necessary or desirable to effectuate this act, to provide for the adequate operation of a public improvement established under this act, and to insure the security of bonds issued. The adoption shall be subject to applicable statutory or charter provisions in respect to the approval or disapproval of the chief executive or other officer of the public corporation and the adoption of the ordinance over his or her veto, except in case of the adoption of an ordinance under this act by the board of commissioners of a county, it shall not be necessary to submit the ordinance to the governor for approval. An ordinance adopted under this act shall become effective upon its adoption unless otherwise specified in the ordinance. It shall not be subject to a referendum vote of the electors of the public corporation except as provided in section 33. The ordinance shall be recorded in the minutes of the meeting of the governing body of the public corporation as soon as practicable after its passage. The record shall be authenticated by the signatures of the presiding officer and the clerk or other recording officer of the governing body. The ordinance shall be published once in a newspaper of general circulation within the boundaries of the public corporation. The publication of the ordinance as a part of the minutes of the meeting at which it was adopted, shall be considered a publication in conformity with this act. Except as otherwise provided in this act, this section shall constitute the sole requirements in respect to the adoption and publication of an ordinance and shall not be limited by a charter or statutory provisions.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1943, Act 219, Imd. Eff. Apr. 20, 1943 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.106 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.108 - Lien on Revenue in Favor of Bondholders.

141.108 Lien on revenue in favor of bondholders.
Sec. 8.
There shall be created in the authorizing ordinance a lien, by this act made a statutory lien, upon the net revenues pledged to the payment of the principal of and interest upon such bonds, to and in favor of the holders of such bonds and the interest coupons pertaining thereto, and each of such holders, which liens shall be a first lien upon such net revenues, except where there exists a prior lien or liens then such new lien shall be subject thereto.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1935, Act 66, Imd. Eff. May 17, 1935 ;-- Am. 1939, Act 2, Imd. Eff. Feb. 15, 1939 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.108
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.109 - Statutory Lien on Net Revenues; Duration; Enforcement.

141.109 Statutory lien on net revenues; duration; enforcement.
Sec. 9.
The net revenues which are pledged shall be and remain subject to the statutory lien until the payment in full of the principal of and interest upon the bonds unless the authorizing ordinance provides for earlier discharge of the lien by substitution of other security. The holder of the bonds, representing in the aggregate not less than 20% of the entire issue then outstanding, may protect and enforce the statutory lien and enforce and compel the performance of all duties of the officials of the borrower, including the fixing of sufficient rates, the collection of revenues, the proper segregation of revenues, and the proper application of the revenues. The statutory lien shall not be construed to give a holder or owner of a bond or coupon authority to compel the sale of the public improvement, the revenues of which are pledged to the improvement.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.109 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.110 - Receiverships for Public Improvements.

141.110 Receiverships for public improvements.
Sec. 10.
If there be any default in the payment of the principal of or interest upon any of said bonds, any court having jurisdiction in any proper action may appoint a receiver to administer and operate on behalf of the borrower, under the direction of said court, any public improvement the revenues of which are pledged to the payment of such principal and interest; and by and with the approval of said court, to fix and charge rates and collect revenues sufficient to provide for the payment of any bonds or other obligations outstanding against the revenues of said public improvement and for the payment of the expenses of operating and maintaining the same and to apply the income and revenues of said public improvement in conformity with this act and the ordinance providing for the issuance of such bonds and in accordance with such orders as the court shall make.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.110
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.111 - Bonds; Application of Other Laws and Charters.

141.111 Bonds; application of other laws and charters.
Sec. 11.
The bonds authorized hereunder shall not be subject to any limitations or provisions contained in the laws of the state of Michigan, pertaining to public corporations or in the charters of public corporations, as now in force or hereafter amended, other than as provided for in this act.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.111
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.112 - Bonds; Discount; Sale Price; Interest; Competitive or Negotiated Sale; Notice; Publication.

141.112 Bonds; discount; sale price; interest; competitive or negotiated sale; notice; publication.
Sec. 12.
(1) Bonds issued under this act may be sold at a discount but may not be sold at a price that would make the interest cost on the money borrowed after deducting any premium or adding any discount exceed 10% per annum or the maximum rate permitted by the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, whichever is greater, and may bear a stated rate of interest or no rate of interest.
(2) A public corporation may sell bonds at a competitive sale or a negotiated sale as determined in the authorizing ordinance. If a public corporation determines to sell a bond at a negotiated sale, the governing body shall expressly state the method and reasons for choosing a negotiated sale instead of a competitive sale in the resolution or ordinance authorizing the issuance or sale of the bonds.
(3) Bonds sold at a competitive sale shall not be sold until notice by publication at least 7 days before the sale in a publication printed in the English language and circulated in this state that carries as a part of its regular service notices of the sale of municipal bonds.
(4) A public corporation shall award a bond sold at a competitive sale to the bidder whose bid meets all specifications and requirements and results in the lowest interest cost to the public corporation, unless all bids are rejected.
(5) A public corporation may accept bids for the purchase of a bond made in person, by mail, by facsimile, by electronic means, or by any other means authorized by the public corporation.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- Am. 1943, Act 219, Imd. Eff. Apr. 20, 1943 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- Am. 1947, Act 204, Imd. Eff. June 13, 1947 ;-- CL 1948, 141.112 ;-- Am. 1949, Act 244, Eff. Sept. 23, 1949 ;-- Am. 1968, Act 68, Imd. Eff. May 28, 1968 ;-- Am. 1973, Act 40, Imd. Eff. June 29, 1973 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978 ;-- Am. 1982, Act 485, Imd. Eff. Dec. 30, 1982 ;-- 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
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.112a - Bonds Subject to Revised Municipal Finance Act.

141.112a Bonds subject to revised municipal finance act.
Sec. 12a.
(1) Bonds issued under this act for which a municipality pledges its full faith and credit are also subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, except for part VI and section 503 of the revised municipal finance act, 2001 PA 34, MCL 141.2601 to 141.2613, and MCL 141.2503.
(2) For bonds issued under this act, the first principal amount maturity date or mandatory redemption date shall be not later than 5 years after the date of issuance and some principal amount shall mature or be subject to mandatory redemption in each subsequent year of the term of the bond.
(3) As used in this section, "municipality" means that term as defined in the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
(4) Except as otherwise provided in this act, bonds subject to this act are not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
History:
Add. 2002, Act 465, Imd. Eff. June 21, 2002
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.112b - Bulletins; Issuance by Department of Treasury.

141.112b Bulletins; issuance by department of treasury.
Sec. 12b.
The department of treasury is authorized to issue bulletins as necessary to carry out the purposes of this act. A bulletin issued under this section shall include a statement of the department's specific statutory authority for any substantive requirement contained within the bulletin.
History:
Add. 2002, Act 465, Imd. Eff. June 21, 2002
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.113 - Bonds; Statement on Face of Bond or on Face of Interest Coupon.

141.113 Bonds; statement on face of bond or on face of interest coupon.
Sec. 13.
(1) There shall be plainly stated on the face of each bond: that it is issued under this act; that it is a self-liquidating bond and is not a general obligation of the borrower, unless the full faith and credit of the issuer are pledged; that it does not constitute an indebtedness of the borrower within any constitutional, statutory, or charter limitation; that the principal of the bond and the interest on the bond are payable solely from revenues, which shall be identified by reference to the public improvement, or part of the public improvement, from which the revenues are to be derived; and that the payment of the principal and interest are secured by a statutory lien on the revenues, the priority of which lien shall be stated.
(2) Unless the full faith and credit of the borrower are pledged, there shall be plainly stated on the face of each interest coupon language substantially as follows: This coupon is not a general obligation of the borrower and is payable solely from certain revenues as set forth in the bond to which this coupon pertains.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.113 ;-- Am. 1969, Act 87, Imd. Eff. July 24, 1969 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.114 - Bonds; Qualities of Negotiable Instruments.

141.114 Bonds; qualities of negotiable instruments.
Sec. 14.
The bonds shall have all the qualities of negotiable instruments as provided for in the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- CL 1948, 141.114 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978 ;-- Am. 2000, Act 350, Eff. Mar. 28, 2001
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.115 - Bonds; Deposit and Investment of Sale Proceeds.

141.115 Bonds; deposit and investment of sale proceeds.
Sec. 15.
The governing body shall require that the proceeds of the sale of bonds issued under this act be deposited in an account or accounts separate from other money of the borrower in 1 or more banks, savings and loan associations, or credit unions, each having unimpaired capital and surplus amounting to at least $2,000,000.00 or that are insured by the federal deposit insurance corporation, the federal savings and loan insurance corporation, or the national credit union share insurance fund. However, the proceeds may be invested, in whole or in part, in the manner provided in section 24 for other funds, if the investment is authorized in the ordinance or approved by the department of treasury.
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, 141.115 ;-- Am. 1951, Act 63, Eff. Sept. 28, 1951 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 1988, Act 228, Eff. Oct. 1, 1988
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.116 - Bonds; Use of Sale Proceeds; Cancellation of Bonds Acquired by Purchase; Payment of Capitalized Interest.

141.116 Bonds; use of sale proceeds; cancellation of bonds acquired by purchase; payment of capitalized interest.
Sec. 16.
Money received from the sale of bonds shall be used solely for the payment of project costs. An unexpended balance of the proceeds of the sale of any bonds remaining after the completion of the project for which issued, may be used for the improvement, enlargement, or extension of the public improvement, if the use is approved by the department of treasury. Any remaining balance shall be paid immediately into the bond and interest redemption deposit account for the bonds, and the money shall be used only for meeting bond reserve requirements or for the redemption or purchase, at not more than the fair market value, of outstanding bonds of the issue from which the proceeds were derived. Bonds acquired by purchase shall be canceled and shall not be reissued. Each ordinance shall state the period for which interest is to be capitalized, and the amount of reserves to be funded from the bonds. Upon receipt of the proceeds of the bonds, there shall be set aside, in the bond and interest redemption deposit account, the amount of interest that will accrue during the period at the interest rate specified in the bonds and the amount required to be set aside in the bond and interest redemption account. Money set aside shall be used solely for the payment of the capitalized interest or to satisfy bond reserve requirements.
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, 141.116 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 2002, Act 465, Imd. Eff. June 21, 2002
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.117 - Bonds; Validity of Signatures.

141.117 Bonds; validity of signatures.
Sec. 17.
In case any of the officers whose signatures or counter-signatures appear on the bonds or coupons shall cease to be such officers before delivery of such bonds, such signatures or counter-signatures shall nevertheless be valid and sufficient for all purposes the same as if they had remained in office until such delivery.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- CL 1948, 141.117
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.118 - Charges for Services; Providing Medical Care Without Charge or at Reduced Rates.

141.118 Charges for services; providing medical care without charge or at reduced rates.
Sec. 18.
(1) Except as provided in subsection (2), free service shall not be furnished by a public improvement to a person, firm, or corporation, public or private, or to a public agency or instrumentality. The reasonable cost and value of any service rendered to a public corporation, including the borrower, by a public improvement shall be charged against the public corporation and shall be paid for as the service accrues from the public corporation's current funds or from the proceeds of taxes which the public corporation, within constitutional limitations, is hereby authorized and required to levy in an amount sufficient for that purpose, or both, and those charges, when so paid, shall be accounted for in the same manner as other revenues of the public improvement.
(2) A public improvement that is a hospital or other health care facility may provide medical care to the indigent without charge or at reduced rates and may provide medical care without charge to comply with conditions for the receipt of a grant or contribution from a public or private donor.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.118 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974 ;-- Am. 1987, Act 229, Imd. Eff. Dec. 28, 1987
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.119 - Additional Bonds.

141.119 Additional bonds.
Sec. 19.
(1) A borrower issuing bonds for any public improvement pursuant to this act, at the time of the authorization of the bonds, may provide in the authorizing ordinance for the issuance of additional bonds of equal standing for its completion in the event the bonds first authorized shall prove to be insufficient therefor, or for its subsequent enlargement, extension, improvement, or repair, or to refund part or all of 1 or more outstanding issues, or for any of these purposes, which additional bonds may be issued and be negotiated from time to time as the proceeds therefrom may be necessary for that purpose. The bonds, when sold, shall have equal standing with those issued in the first instance. The additional bonds may be issued in separate series from the original bonds, with different dates of issuance, and with changes in the form thereof which are consistent with that equality of standing.
(2) The provisions of section 7 providing for annual installments, the amounts of the installments, and the due date of the first installment shall not be controlling as to each additional series whether the additional series is of equal or subordinate standing. Instead, section 7 shall be applied to the combined annual principal installments and interest at actual rates on outstanding bonds and at the maximum authorized rate on the additional series. Additional bonds of equal standing shall not be issued unless authorized as provided in this section.
History:
1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1943, Act 219, Imd. Eff. Apr. 20, 1943 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- Am. 1947, Act 204, Imd. Eff. June 13, 1947 ;-- CL 1948, 141.119 ;-- Am. 1969, Act 87, Imd. Eff. July 24, 1969 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978
2023 Michigan Compiled Laws › Chapter 141 - Municipal Financing › Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140) › Section 141.120a - Combined Public Improvements; Bonds; Revenues Pledged; Retirement.

141.120a Combined public improvements; bonds; revenues pledged; retirement.
Sec. 20a.
Any public corporation may determine to operate 2 or more public improvements as a combined public improvement and in such case it may pledge the revenues of such combined public improvement to the payment of revenue bonds issued to defray the cost of purchasing, acquiring, constructing, improving, enlarging, extending and/or repairing the whole or any part of such combined public improvement. Whenever any public corporation shall determine to issue any bonds under this act and pledge thereto the revenues of a public improvement or a combined public improvement, if there shall be outstanding bonds pledging the revenues of such public improvement or any unit or units of such combined public improvement, then such new bonds may be issued subject to such prior pledge, or may include an amount sufficient to retire such outstanding bonds, and to the extent that they are issued for such retirement, they shall be subject to the provisions of section 20 of this act, except that in lieu of being designated as refunding bonds, such new bonds shall recite the extent to which they refund outstanding obligations.
History:
Add. 1943, Act 219, Imd. Eff. Apr. 20, 1943 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.120a