Michigan Compiled Laws Act 161 Of 1923 Board Of Sinking Fund Commissioners (141.31 - 141.40)

AN ACT to provide for the establishment of county sinking funds and to create a county sinking fund commission; to prescribe the powers and duties thereof; to prescribe penalties and provide remedies; and to repeal all acts and parts of acts contravening the provisions of this act.

History: 1923, Act 161, Eff. Aug. 30, 1923 ;-- Am. 1998, Act 163, Eff. Mar. 23, 1999

Section 141.31 Bond Issues; Requisite Sinking Funds.
That from and after the passage of this act, before any county in the state of Michigan shall issue any bonds except serial bonds...
Section 141.32 Sinking Fund Commissioners.
The county treasurer, the county clerk, the register of deeds, the chairman of the board of supervisors and the chairman of the finance committee...
Section 141.33 Sinking Fund Commissioners; Control Of Fund, Application; Payment, Manner.
The said board of sinking fund commissioners shall have exclusive control of the money of the sinking fund and shall faithfully apply the same...
Section 141.34 Sinking Fund Commissioners; Handling Of Funds, Investment; Bonded Debt.
The said board of sinking fund commissioners shall from time to time, as it shall deem expedient, purchase or pay the outstanding bonded debt...
Section 141.35 Sinking Fund Commissioners; Annual Meeting, Procedure; Rules; Authorizing Vote; Clerk, Records.
The annual meeting of the said board of sinking fund commissioners shall be held on the first Tuesday of each year. Said board may,...
Section 141.36 Sinking Fund Commissioners; Condition Reports To Board; Tax Recommendations.
The board of sinking fund commissioners shall from time to time, but at least annually, and whenever requested by the board of supervisors, make...
Section 141.37 Bond Sale; Interest, Credit; Expenses Of Commissioners.
Whenever any issue of the bonds of the county shall be sold for more than par value all the premium and accrued interest shall...
Section 141.38 Suit On Securities.
The said board of sinking fund commissioners shall have power and authority to bring suit for the purpose of enforcing the collection of any...
Section 141.39 Saving Clause; Construction Of Act.
In any county within the state of Michigan, which may have elected to act under the provisions of Act No. 42 of the Public...
Section 141.40 Violation Of Mcl 168.1 To 168.992 Applicable To Petitions; Penalties.
A petition under section 9, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954...

Last modified: October 10, 2016