Section 129.271 – Duties of State Before Payment or Discharge of Bonds and Ancillary Facilities.
129.271 Duties of state before payment or discharge of bonds and ancillary facilities. Sec. 11. (1) This state hereby pledges and agrees with the authority, and the owners of the bonds and benefited parties, that until all bonds and ancillary facilities, together with the interest on the bonds and ancillary facilities and all costs and […]
Section 129.243 – Adoption of Resolution; Written Policy; Provisions.
129.243 Adoption of resolution; written policy; provisions. Sec. 3. A local unit shall not be a party to a credit card arrangement unless the governing body of the local unit has adopted by resolution a written policy that provides all of the following: (a) That an officer or employee designated by the credit card policy […]
Section 129.244 – Total Combined Authorized Credit Limit; Limitation; Payment of Balance, Annual Fee, and Interest.
129.244 Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest. Sec. 4. (1) The total combined authorized credit limit of all credit cards issued by a local unit shall not exceed 5% of the total budget of the local unit for the current fiscal year. (2) The governing body of a […]
Section 129.245 – Limiting or Suspending Authority to Issue and Use Credit Cards; Issuance of Order; Hearing.
129.245 Limiting or suspending authority to issue and use credit cards; issuance of order; hearing. Sec. 5. After a hearing conducted under the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws, the department of treasury may issue an order […]
Section 129.246 – Validity of Credit Card Arrangement Before Effective Date of Act.
129.246 Validity of credit card arrangement before effective date of act. Sec. 6. A credit card arrangement entered into by a local unit before the effective date of this act is valid but may not be used for credit card transactions on or after the effective date of this act unless the requirements of sections […]
Section 129.247 – Effective Date.
129.247 Effective date. Sec. 7. This act shall take effect 6 months after the date of its enactment. History: 1995, Act 266, Eff. July 8, 1996
Section 129.261 – Short Title.
129.261 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan tobacco settlement finance authority act”. History: 2005, Act 226, Imd. Eff. Nov. 21, 2005
Section 129.209 – Venue; Statute of Limitations.
129.209 Venue; statute of limitations. Sec. 9. An action instituted on the payment bond shall be brought only in the appropriate court in the political subdivision in which the contract was to be performed. No action shall be commenced after the expiration of 1 year from the date on which final payment was made to […]
Section 129.262 – Legislative Findings and Declaration.
129.262 Legislative findings and declaration. Sec. 2. The legislature finds and declares the following: (a) This state has entered into a master settlement agreement with major tobacco companies that should result in the state receiving substantial sums of money in perpetuity assuming no adverse changes in cigarette consumption, market share, financial condition of those tobacco […]
Section 129.210 – Application of Statute.
129.210 Application of statute. Sec. 10. This act shall not apply to any contract awarded pursuant to an invitation for bids issued on or before the effective date hereof, or to any person or bonds in respect to any such contract. The rights, duties, and obligations of parties arising under, or incidental to, bonds executed […]