141.117 Bonds; validity of signatures. Sec. 17. In case any of the officers whose signatures or counter-signatures appear on the bonds or coupons shall cease to be such officers before delivery of such bonds, such signatures or counter-signatures shall nevertheless be valid and sufficient for all purposes the same as if they had remained in […]
141.118 Charges for services; providing medical care without charge or at reduced rates. Sec. 18. (1) Except as provided in subsection (2), free service shall not be furnished by a public improvement to a person, firm, or corporation, public or private, or to a public agency or instrumentality. The reasonable cost and value of any […]
141.119 Additional bonds. Sec. 19. (1) A borrower issuing bonds for any public improvement pursuant to this act, at the time of the authorization of the bonds, may provide in the authorizing ordinance for the issuance of additional bonds of equal standing for its completion in the event the bonds first authorized shall prove to […]
141.120 Revenue refunding bonds. Sec. 20. (1) If a borrower has outstanding any bonds issued under this act, it may issue and negotiate new bonds under this act for the purpose of providing for the retirement of those outstanding bonds, in whole or in part. The new bonds shall be designated “revenue refunding bonds”. Except […]
141.120a Combined public improvements; bonds; revenues pledged; retirement. Sec. 20a. Any public corporation may determine to operate 2 or more public improvements as a combined public improvement and in such case it may pledge the revenues of such combined public improvement to the payment of revenue bonds issued to defray the cost of purchasing, acquiring, […]
141.120b Issuance of revenue bonds to retire outstanding bonds for public improvements; revenue refunding bonds; noncallable unmatured bonds. Sec. 20b. If a township, city, or village has outstanding bonds issued for acquiring or constructing public improvements, whether the bonds are payable from revenues, special assessments, or taxes, it may issue revenue bonds under this act […]
141.120c Parking revenue bonds; special assessments on benefited properties. Sec. 20c. When a borrower has outstanding any parking revenue bonds issued under the provisions of this act, it may thereafter levy special assessments against properties specially benefited by the parking facilities originally financed by the bonds, but no assessment shall be made at large, and […]
141.121 Rates for services; sufficiency; fixing and revising; pledge for payment of bonds; charges for services as lien on premises; certification of delinquent charges; notice of tenants’ responsibility for payment of charges; cash deposit; discontinuance of service to enforce payment of charges; validation of enforcement methods included in ordinance. Sec. 21. (1) Rates for services […]
141.121a Issuance of notes; requirement that delinquent tax revenues be fixed and sufficient; statutory lien. Sec. 21a. (1) Delinquent tax revenues shall be fixed before the issuance of the notes and shall be sufficient to provide for all of the following: (a) The payment of the interest on and the principal of notes payable from […]
141.122 Accounting of revenues; order of priority; disposition of surplus. Sec. 22. (1) In the authorizing ordinance the governing body of the borrower shall provide that the revenues of the public improvement be accounted for separately from the other funds and accounts of the borrower in the following order of recorded priority: (a) After provision […]
141.122a Delinquent tax revenues; statutory lien; commingling; designation of note and interest redemption account; set aside of reasonable excess amount; reserve; transfer of surplus to county general fund. Sec. 22a. (1) In the authorizing order, the county treasurer shall also provide that the delinquent tax revenues of the delinquent tax system are all subject to […]
141.123 Appropriation and use of revenues for payment of operation and maintenance expenses; appropriation and use of moneys raised by tax levy. Sec. 23. The borrower may appropriate and use, and may covenant to appropriate and use, any part of its available income or revenues derived from any source other than from the operation of […]
141.124 Money in several accounts of public improvement; separate deposit account; investment. Sec. 24. (1) Money in the several accounts of the public improvement shall be deposited as designated by the governing body of the borrower. Money in the several accounts of the public improvement, except money in the bond and interest redemption account and […]
141.124a Deposit accounts. Sec. 24a. Money in the several accounts of the delinquent tax system shall be deposited as designated by the county board of commissioners of the county. Money in the several accounts of the delinquent tax system, except money in the note and interest redemption account and money derived from the proceeds of […]
141.125 Fixing dates of operating year for public improvement. Sec. 25. The ordinance authorizing the issuance of such bonds shall fix the dates of the beginning and ending of the operating year for such public improvement, subject to the right of the department of treasury to require that it correspond with the fiscal year of […]
141.126 Receiving fund surplus; deposit. Sec. 26. Any money remaining in the accounts of the public improvement at the end of any operating year, which under the provisions of section 22 shall be considered surplus, may be transferred to other accounts of the public improvement or may be used for the purpose or purposes as […]
141.127 Issuance of bonds by public corporation; applicable laws. Sec. 27. A public corporation issuing bonds under this act is subject to all of the following: (a) If the public corporation issuing the bonds meets the requirements of qualified status under section 303(3) of the revised municipal finance act, 2001 PA 34, MCL 141.2303, the […]
141.128 Effect of approval permitting issuance of bonds. Sec. 28. Qualification or approval to issue obligations under the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, that permits the issuance of bonds under this act shall not be considered an approval of the legality of issuing bonds under this act. History: 1933, […]
141.129 Service rates not subject to supervision by state agency. Sec. 29. Rates charged for the services furnished by any public improvement purchased, acquired, constructed, improved, enlarged, extended and/or repaired under the provisions of this act shall not be subject to supervision or regulation by any state bureau, board, commission or other like instrumentality or […]
141.130 Books of record and account; annual audit report. Sec. 30. (1) Any borrower issuing revenue bonds under this act shall install, maintain, and keep proper books of record and account, separate from other records and accounts of such borrower, in which full and correct entries shall be made of all dealings or transactions of […]
