Michigan Compiled Laws 451-1994-ii-1-sewage-disposal-an Part 45 Bonds For Prevention And Abatement Of Water Pollution (324.4501...324.4511)

• Section 324.4501 “municipality” Defined.
  The term “municipality” or “municipalities” as used in this part means and includes a county, city, village, township, school district, metropolitan district, port district,...
• Section 324.4502 Legislative Determinations.
  The legislature hereby determines all of the following: (a) That it is essential for the public health, safety, and welfare of the state and...
• Section 324.4503 Bond Issuance; Authorization; Amount; Purpose.
  The state shall borrow the sum of $335,000,000.00 and issue the general obligation bonds of the state, pledging the faith and credit of the...
• Section 324.4504 Bonds; Issuance In Series; Resolution Of Administrative Board; Sale Of Bonds.
  (1) The bonds shall be issued in 1 or more series, each series to be in the principal amount, to be dated, to have...
• Section 324.4505 Revenues; Disposition.
  The proceeds of sale of the bonds or any series of the bonds and any premium and accrued interest received on the delivery of...
• Section 324.4506 Bonds; Negotiability; Tax Exempt.
  Bonds issued under this part are fully negotiable under the uniform commercial code, Act No. 174 of the Public Acts of 1962, being sections...
• Section 324.4507 Legal Investments.
  Bonds issued under former Act No. 76 of the Public Acts of 1968 or this part are securities in which all banks, bankers, savings...
• Section 324.4508 Bonds; Question; Submission To Electors; Ballot; Form.
  The question of borrowing the sum of $335,000,000.00 and issuing bonds of the state for the purpose set forth in this part shall be...
• Section 324.4509 Submission To Electors.
  The secretary of state shall take such steps and perform all acts as are necessary to properly submit the question to the electors of...
• Section 324.4510 Bonds; Appropriation To Make Prompt Payment.
  After the issuance of the bonds authorized by former Act No. 76 of the Public Acts of 1968 or this part, or any series...
• Section 324.4511 Approval Of Electors.
  Bonds shall not be issued under this part unless the question set forth in section 4508 is approved by a majority vote of the...

Last modified: October 10, 2016