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Bonds or Obligations; Terms and Conditions - Mich. Comp. Laws Section 141.1006

Legal Research Home > Michigan Laws > Municipal Financing > Bonds or Obligations; Terms and Conditions - Mich. Comp. Laws Section 141.1006

141.1006 Bonds or obligations; terms and conditions.

Sec. 6.

The bonds or obligations may be serial bonds or term bonds or a combination of serial and term bonds, shall mature in not more than 30 years, may bear interest at a rate or rates, may be subject to redemption prior to maturity with or without premium, may be sold in 1 or more series at public or private sale at a discount of not to exceed 10% of the principal amount of the bonds or obligations, and may have other terms and conditions all as determined by resolution of the legislative body of the city or county.

History: 1981, Act 80, Eff. July 15, 1981 ;-- Am. 1987, Act 279, Eff. Apr. 11, 1988

Section: Previous 141.956 141.991 141.1001 141.1002 141.1003 141.1004 141.1005 141.1006 141.1007 141.1008 141.1009 141.1010 141.1011 141.1051 141.1052 Next

Last modified: March 17, 2013