Municipality Desiring To Contract With Authority; Authorization; Resolution; Notice; Contents; Execution And Delivery Of Contract; Effective Date; Petition Requesting Referendum Upon Contract; Voting; Effect Of Action Taken Prior To Effective Date Of Subsection (2); Special Election; Verification Of Petition Signatures; Number Of Registered Electors - Mich. Comp. Laws Section 124.288

Sec. 8.

(1) A municipality desiring to enter into a contract with the authority under section 7 shall authorize, by resolution of its governing body, the execution of the contract. After the adoption of the resolution, a notice of the resolution shall be published in a newspaper of general publication in the municipality, which notice shall state:

(a) That the governing body has adopted a resolution authorizing execution of the contract.

(b) The purpose of the contract.

(c) The source of payment for the contractual obligation.

(d) The right of referendum on the contract.

(e) Other information as the governing body determines to be necessary to adequately inform all interested persons of the nature of the obligation.

(2) The contract may be executed and delivered by the municipality upon approval by its governing body without a vote of the electors on the contract, but the contract shall not become effective until the expiration of 45 days after the date of publication of the notice. If within the 45-day period a petition signed by not less than 10% or 15,000, whichever is less, of the registered electors residing within the limits of the municipality is filed with the clerk of the municipality requesting a referendum upon the contract, the contract shall not become effective until approved by the vote of a majority of the electors of the municipality qualified to vote and voting on the question at a general or special election. If a municipality has, before the effective date of this subsection, published a resolution authorizing the execution of a contract under this section in substantial compliance with this section before this subsection takes effect, and the referendum period formerly provided by this section has expired, but the bonds have not been issued, the resolution and the publication of the resolution are valid and, if a petition for a referendum on execution of the contract has not been or is not signed and filed within the time period formerly provided by this section, the contract may be executed and shall become effective without submitting the proposition for approval to the electors, or if a petition has been or is so signed and filed, the contract may be executed and become effective if approved at an election as formerly provided in this section. A special election called for the purpose provided in this section shall not be included in any statutory or charter limitation as to the number of special elections to be called within any period of time. Signatures on the petition shall be verified by some person or persons under oath, as the actual signatures of the persons whose names are signed to the petition, and the clerk of the municipality shall have the same power to reject signatures as city clerks under section 25 of Act No. 279 of the Public Acts of 1909, as amended, being section 117.25 of the Michigan Compiled Laws. The number of registered electors in any municipality shall be determined by the registration books as of the date of the filing of the petition.