Section 121.11 – Budget; Submission, Hearing, Adoption.
121.11 Budget; submission, hearing, adoption. Sec. 11. On or before February 1 of each year, the board of commissioners shall prepare and submit to the governing bodies of each governmental unit comprising the authority, a proposed budget covering its anticipated expenses of administration, operation and maintenance, plus any reserve therefor to be established, for the […]
Section 121.26 – Joinder of Municipality After Incorporation of Authority; Procedure.
121.26 Joinder of municipality after incorporation of authority; procedure. Sec. 26. (1) Any municipality which did not join in the incorporation of an authority may become a part thereof by: (a) The adoption of a resolution by the legislative body of the municipality indicating its intent to become a part of the authority, a certified […]
Section 121.12 – Fiscal Year.
121.12 Fiscal year. Sec. 12. The fiscal year of the authority shall commence on July 1 of each year and end on June 30 of each year, unless the board of commissioners, by resolution, establishes a different fiscal year. History: 1957, Act 4, Imd. Eff. Mar. 20, 1957
Section 121.27 – Additional Powers.
121.27 Additional powers. Sec. 27. The powers herein granted shall be in addition to those granted by any charter or other statute. History: 1957, Act 4, Imd. Eff. Mar. 20, 1957
Section 121.13 – Bonds; Maximum; Authorizing Resolution, Contents.
121.13 Bonds; maximum; authorizing resolution, contents. Sec. 13. For the purpose of constructing, acquiring, improving, enlarging or extending a water supply and transmission system, including the payment of engineering, legal and financing expenses in connection therewith, and after the establishment of the initial rates and the execution of contracts for the sale and purchase of […]
Section 121.14 – Repealed. 2002, Act 446, Imd. Eff. June 17, 2002.
121.14 Repealed. 2002, Act 446, Imd. Eff. June 17, 2002. Compiler’s Notes: The repealed section pertained to terms, interest, redemption, and payment of bonds.
Section 121.14a – Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
121.14a Violation of MCL 168.1 to 168.992 applicable to petitions; penalties. Sec. 14a. (1) The resolution authorizing the issuance of bonds by the authority shall be published in full in a newspaper of general circulation within the corporate limits of the authority within 1 week after its adoption. If, within 30 days from the publication […]
Section 121.15 – Bonds; Issuance Subject to Revised Municipal Finance Act.
121.15 Bonds; issuance subject to revised municipal finance act. Sec. 15. Bonds issued by any authority under the provisions of this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. History: 1957, Act 4, Imd. Eff. Mar. 20, 1957 ;– Am. 2002, Act 446, Imd. Eff. June 17, […]
Section 121.16 – Taxes; Rates; Assessment; Levy; Collection; Subjects.
121.16 Taxes; rates; assessment; levy; collection; subjects. Sec. 16. The authority shall levy each year a sufficient tax, taking into account the probable delinquency in tax collections, to pay the principal and interest on all bonds lawfully issued by the authority under the provisions of this act, maturing prior to the next tax collection period. […]
Section 121.17 – Repealed. 2002, Act 446, Imd. Eff. June 17, 2002.
121.17 Repealed. 2002, Act 446, Imd. Eff. June 17, 2002. Compiler’s Notes: The repealed section pertained to establishment of separate depositary account as debt retirement fund.