Section 12.131 – Definitions.
12.131 Definitions. Sec. 1. As used in this act: (a) “Department” means the department of treasury. (b) “Funding unit” means 1 of the following, as applicable: (i) For a circuit other than the third circuit of the circuit court, each county in the circuit. (ii) For the third circuit of the circuit court and for […]
Section 12.132 – Agreement.
12.132 Agreement. Sec. 2. The department, and a circuit, district, or municipal court, together with its funding unit if its funding unit is not the state, may enter into an agreement as provided in section 3. History: 1993, Act 316, Eff. Jan. 1, 1994
Section 12.133 – Agreement; Provisions.
12.133 Agreement; provisions. Sec. 3. An agreement entered into under this act shall provide for at least all of the following: (a) Assignment to the state for collection by the department of amounts that have been due and owing the court for not less than 180 days, including, but not limited to, any or all […]
Section 12.112 – Definitions.
12.112 Definitions. Sec. 2. As used in this act: (a) “Bonds” means private activity bonds subject to the unified volume limitation and any other bonds, notes, and evidences of indebtedness, including certain lease and installment purchase obligations, that would be treated by the internal revenue service as private activity bonds unless issued with an allocation […]
Section 12.113 – Unified Volume Limitation and Allotment Thereof; Determination; Publication.
12.113 Unified volume limitation and allotment thereof; determination; publication. Sec. 3. Each year, the treasurer shall determine the unified volume limitation and the allotment of the unified volume limitation for the following calendar year and shall publish that determination in 3 newspapers of general circulation in different parts of the state, 1 of which is […]
Section 12.114 – Allotments to State and Municipal Issuers for Allocation; Reallotment; Division of Allotment Into Installments; Increase in Monthly Installments; Reserving Portion of Monthly Allotment; Pro Rata Reductions in Monthly Installments.
12.114 Allotments to state and municipal issuers for allocation; reallotment; division of allotment into installments; increase in monthly installments; reserving portion of monthly allotment; pro rata reductions in monthly installments. Sec. 4. (1) The treasurer shall allot 40% of the unified volume limitation to the state issuers and 60% of the unified volume limitation to […]
Section 12.115 – Request for Allocation; Attachment; Notice of Sale; Certification of Preliminary Proceedings.
12.115 Request for allocation; attachment; notice of sale; certification of preliminary proceedings. Sec. 5. (1) A state or municipal issuer seeking to issue bonds shall file with the treasurer a request for allocation containing all of the following information and supporting documentation unless the treasurer determines the information required would be unnecessary to the type […]
Section 12.116 – Requests for Allocations; Order of Consideration; Approval or Denial; Reason for Denial; Steps to Maintain Orderly Application and Allocation Process; Instances in Which Request May Be Denied; When Request Considered Filed or Received; Issuer Seeking Allocation Not in Excess of Unallocated Unified Volume Limitation.
12.116 Requests for allocations; order of consideration; approval or denial; reason for denial; steps to maintain orderly application and allocation process; instances in which request may be denied; when request considered filed or received; issuer seeking allocation not in excess of unallocated unified volume limitation. Sec. 6. (1) Except as provided by subsection (3), the […]
Repealed – Act 35 of 1959 – Management of State Funds (12.71 – 12.74)
MANAGEMENT OF STATE FUNDSAct 35 of 195912.71-12.74 Expired. 1959, Act 35, Eff. Mar. 31, 1960.
Section 12.117 – Allocation Order; Requirements; Reversion; Allocation Not Transferable Between Issuers; Use of Allocation; Validity of Order; Request for Extension.
12.117 Allocation order; requirements; reversion; allocation not transferable between issuers; use of allocation; validity of order; request for extension. Sec. 7. (1) An allocation order shall allocate the principal amount of bonds requested or, for an issue of refunding bonds, the principal amount of the proposed issue expected to exceed the amount of the obligation […]