Michigan Compiled Laws 34-2001-iii Part III General (141.2301...141.2323)

• Section 141.2301 Issuance Of Municipal Security.
  A municipality shall not issue a municipal security except in accordance with this act. History: 2001, Act 34, Eff. Mar. 1, 2002
• Section 141.2303 Annual Audit Report And Qualifying Statement; Filing By Municipality; Compliance Requirements; Determination; Correction Of Noncompliant Requirements; Reconsideration; Order Granting Exception From Prior Approval.
  (1) Each municipality shall file an audit report annually with the department within 6 months from the end of its fiscal year or as...
• Section 141.2304 Issuance Of Municipal Security; Provisions Applicable To Contracting Municipalities.
  If a municipality issues a municipal security subject to this act and the principal and interest for that municipal security will be paid by...
• Section 141.2305 Issuance Of Municipal Security; Interest Rate; Sale At Discount; Rating; Maturity; Principal As Interest.
  (1) A municipal security authorized by law to be issued by a municipality may, notwithstanding the provisions of a charter, bear no interest as...
• Section 141.2307 Proposed Bulletin; Public Comment Period.
  Before any bulletin issued by the department can take effect that addresses the filings, approvals, or determinations under section 303, or any modification of...
• Section 141.2308 Limited Tax Full Faith And Credit Pledge; Notice.
  If a municipality issues a municipal security that contains the limited tax full faith and credit pledge of the municipality after October 1, 2002,...
• Section 141.2309 Sale Of Municipal Security At Competitive Or Negotiated Sale; Requirements.
  (1) A municipality may sell an authorized municipal security at a competitive sale or a negotiated sale as determined in the authorizing resolution. If...
• Section 141.2311 Municipal Security; Registration; Facsimile Signatures; Transfer Of Ownership; Delivery; Validity Of Signature Of Former Officer.
  (1) A municipal security may be registrable as to principal alone or as to both principal and interest under terms and conditions determined by...
• Section 141.2313 Mutilated Security; Substitution.
  If a municipal security has become mutilated, then the governing body of the municipality may by resolution provide for the issuance of a new...
• Section 141.2315 Issuance Of Municipal Security; Determination; Payment On Demand; Contrary Ordinance Or Charter Provision.
  (1) In determining to issue a municipal security, a municipality may do 1 or more of the following: (a) Authorize and enter into insurance...
• Section 141.2317 Interest Rate Exchange Or Swap, Hedge, Or Similar Agreement; Definitions.
  (1) For the purpose of more effectively managing its debt service, a municipality may enter into an interest rate exchange or swap, hedge, or...
• Section 141.2319 Document To Be Filed By Municipality; Failure To Comply With Subsection (1) Or (2).
  (1) Within 15 business days of completing the issuance of any municipal security qualified under section 303(3), the municipality shall file a copy of...
• Section 141.2321 Filing In Electronic Format.
  The department may require that the filings to the department required by this act be filed in an electronic format prescribed by the department....
• Section 141.2323 Municipal Security Issued Without Department Approval; Rating.
  The department may require a rating for a municipal security issued without approval of the department as provided in section 303(3) if the principal...

Last modified: October 10, 2016