Section 141.2819 – Validation of Previously Issued Securities.
141.2819 Validation of previously issued securities. Sec. 819. Any securities previously issued under or in accordance with the authority contained in the municipal finance act, 1943 PA 202, MCL 131.1 to 139.3, are hereby validated. History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2821 – Issuance of Municipal Security Beginning March 1, 2002 and Ending April 30, 2002; Qualified Status.
141.2821 Issuance of municipal security beginning March 1, 2002 and ending April 30, 2002; qualified status. Sec. 821. (1) Beginning March 1, 2002 and ending April 30, 2002, a municipality planning to issue a municipal security may do either of the following: (a) Seek approval or exception from prior approval of the municipal security from […]
Section 141.2811 – Effect of MCL 141.2303.
141.2811 Effect of MCL 141.2303. Sec. 811. Except as provided by sections 807 and 809, section 303 replaces and reenacts sections 10 and 11 of chapter III of the municipal finance act, 1943 PA 202, MCL 133.10 and 133.11. History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2813 – Effect of MCL 141.2317.
141.2813 Effect of MCL 141.2317. Sec. 813. Except as provided by sections 807 and 809, section 317 replaces and reenacts section 15 of chapter III of the municipal finance act, 1943 PA 202, MCL 133.15. History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2815 – Repealed. 2002, Act 541, Imd. Eff. July 26, 2002.
141.2815 Repealed. 2002, Act 541, Imd. Eff. July 26, 2002. Compiler’s Notes: The repealed section pertained to exemption of certain security from act.
Section 141.2817 – Effect of MCL 141.2305.
141.2817 Effect of MCL 141.2305. Sec. 817. Except as provided by sections 807 and 809, section 305 replaces and reenacts section 1a of chapter III of the municipal finance act, 1943 PA 202, MCL 133.1a. History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2609 – Conditions for Securing Certain Outstanding Municipal Securities.
141.2609 Conditions for securing certain outstanding municipal securities. Sec. 609. A refunding security issued to refund municipal securities issued under the terms of the drain code of 1956, 1956 PA 40, MCL 280.1 to 280.630, shall be of the same character as the refunded outstanding municipal security and shall be construed to be a continuation […]
Section 141.2611 – Refund of Outstanding Securities by Issuance of Refunding Security; Prohibition; Exception; Procedures; Reasonable Basis.
141.2611 Refund of outstanding securities by issuance of refunding security; prohibition; exception; procedures; reasonable basis. Sec. 611. (1) Except as provided in section 515 or subsection (2), a municipality shall not refund all or any part of its outstanding securities by issuing a refunding security unless the net present value of the principal and interest […]
Section 141.2613 – Refunding Securities; Effect of 141.2503.
141.2613 Refunding securities; effect of 141.2503. Sec. 613. Refunding securities are not subject to section 503(1), (2), and (3). History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2701 – Annual Tax Levy; Determination; Limitation Not Applicable; Adjustment in Event of Surplus Funds; Use of Money Remaining in Debt Retirement Fund; Priority; Set Aside of Tax Collections Allocable to Principal and Interest Payment; Failure of Officer to Perform Duties; “Tax Levy” Defined.
141.2701 Annual tax levy; determination; limitation not applicable; adjustment in event of surplus funds; use of money remaining in debt retirement fund; priority; set aside of tax collections allocable to principal and interest payment; failure of officer to perform duties; “tax levy” defined. Sec. 701. (1) Subject to subsection (3), if a municipality has municipal […]