Michigan Compiled Laws Act 30 Of 1978 Budget Stabilization Fund (141.441 - 141.445)

AN ACT to provide for the creation and use of budget stabilization funds by counties, cities, villages, and townships.

History: 1978, Act 30, Imd. Eff. Feb. 24, 1978 ;-- Am. 1980, Act 192, Imd. Eff. July 8, 1980

Section 141.441 Definitions.
As used in this act: (a) “Fund” means a budget stabilization fund. (b) “Municipality” means a county, city, village, or township. History: 1978, Act...
Section 141.442 Budget Stabilization Fund; Creation.
The governing body of a municipality by an ordinance adopted by a 2/3 vote of the members elected and serving may create a budget...
Section 141.443 Budget Stabilization Fund; Appropriation; Additional Taxes Prohibited; Limitation; Investments; Disposition Of Excess Money.
(1) Each fiscal year following the fiscal year in which a fund is created, the governing body of the municipality which created the fund...
Section 141.444 Budget Stabilization Fund; Purposes; Sufficiency Of Municipality's Revenue.
(1) Money in the budget stabilization fund may be appropriated by an ordinance or resolution adopted by a 2/3 vote of the members elected...
Section 141.445 Budget Stabilization Fund; Prohibitions.
The money in the budget stabilization fund shall not be appropriated for the acquisition, construction, or alteration of a facility as part of a...

Last modified: October 10, 2016