Michigan Compiled Laws Act 121 Of 1969 Bonds Or Notes For Capital Improvements (141.381 - 141.383)

AN ACT to authorize counties, cities, townships and villages to issue bonds or notes, and pledge deferred income from sale of capital assets, due and payable but which has not been received, for the payment of principal and interest thereon; and to authorize the county, city, township or village to pledge its full faith and credit for the payment of the bonds or notes.

History: 1969, Act 121, Imd. Eff. July 29, 1969

Section 141.381 Issuance Of Bonds And Notes; Resolution; Purpose; Pledges; Use Of Proceeds; Debt Limitation; General Obligations.
Any county, city, township or village, by resolution adopted by a majority vote of the members elect of its legislative body may authorize the...
Section 141.382 Form And Execution Of Bonds Or Notes; Principal And Interest; Maximum Due In One Year; Due Dates; Tax Exemptions.
The bonds or notes authorized to be issued under this act shall be issued in the name of the county, city, township, or village...
Section 141.383 Bonds Or Notes Subject To Mcl 141.2101 To 141.2821.
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,...

Last modified: October 10, 2016