Michigan Compiled Laws Act 79 Of 1937 Municipal Borrowing (141.221 - 141.226)

AN ACT to authorize any municipality, as herein defined, to borrow money and issue notes in anticipation of the collection of revenues other than taxes and special assessments; and to prescribe the powers and duties of certain state departments, commissions, and officials.

History: 1937, Act 79, Imd. Eff. June 14, 1937 ;-- Am. 1983, Act 50, Imd. Eff. May 16, 1983

Section 141.221 Definitions.
The following definitions shall apply for the purposes of this act: (a) “Municipality” means any local unit of government of this state which may...
Section 141.222 Municipal Borrowing; Bus And Street Railway Transportation Or Water Supply Utility Purposes.
Any municipality of this state that operates any public utility pursuant to law for the purpose of supplying bus or street railway transportation or...
Section 141.223 Notes Subject To Mcl 141.2101 To 141.2821.
Notes issued under this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. History: 1937, Act 79,...
Section 141.224 Municipal Borrowing For Utility Purposes; Limitations.
Any governmental unit described in this act may borrow money and issue notes in anticipation of the collection of revenues of any utility described...
Section 141.225 Repealed. 2002, Act 193, Imd. Eff. Apr. 29, 2002.
Compiler's Notes: The repealed section pertained to municipal borrowing for utility purposes.
Section 141.226 Municipal Borrowing For Utility Purposes; Liability Of Municipality; Construction Of Act.
The faith and credit of the municipality shall remain pledged for the payment of said notes: Provided, however, That this act shall not repeal...

Last modified: October 10, 2016