Section 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.
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 […]
Section 141.111 – Bonds; Application of Other Laws and Charters.
141.111 Bonds; application of other laws and charters. Sec. 11. The bonds authorized hereunder shall not be subject to any limitations or provisions contained in the laws of the state of Michigan, pertaining to public corporations or in the charters of public corporations, as now in force or hereafter amended, other than as provided for […]
Section 141.112 – Bonds; Discount; Sale Price; Interest; Competitive or Negotiated Sale; Notice; Publication.
141.112 Bonds; discount; sale price; interest; competitive or negotiated sale; notice; publication. Sec. 12. (1) Bonds issued under this act may be sold at a discount but may not be sold at a price that would make the interest cost on the money borrowed after deducting any premium or adding any discount exceed 10% per […]
Section 141.112a – Bonds Subject to Revised Municipal Finance Act.
141.112a Bonds subject to revised municipal finance act. Sec. 12a. (1) Bonds issued under this act for which a municipality pledges its full faith and credit are also subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, except for part VI and section 503 of the revised municipal finance act, […]
Section 141.112b – Bulletins; Issuance by Department of Treasury.
141.112b Bulletins; issuance by department of treasury. Sec. 12b. The department of treasury is authorized to issue bulletins as necessary to carry out the purposes of this act. A bulletin issued under this section shall include a statement of the department’s specific statutory authority for any substantive requirement contained within the bulletin. History: Add. 2002, […]
Section 141.113 – Bonds; Statement on Face of Bond or on Face of Interest Coupon.
141.113 Bonds; statement on face of bond or on face of interest coupon. Sec. 13. (1) There shall be plainly stated on the face of each bond: that it is issued under this act; that it is a self-liquidating bond and is not a general obligation of the borrower, unless the full faith and credit […]
Section 141.114 – Bonds; Qualities of Negotiable Instruments.
141.114 Bonds; qualities of negotiable instruments. Sec. 14. The bonds shall have all the qualities of negotiable instruments as provided for in the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102. History: 1933, Act 94, Imd. Eff. May 26, 1933 ;– CL 1948, 141.114 ;– Am. 1978, Act 216, Imd. Eff. June 5, […]
Section 141.115 – Bonds; Deposit and Investment of Sale Proceeds.
141.115 Bonds; deposit and investment of sale proceeds. Sec. 15. The governing body shall require that the proceeds of the sale of bonds issued under this act be deposited in an account or accounts separate from other money of the borrower in 1 or more banks, savings and loan associations, or credit unions, each having […]
Section 141.116 – Bonds; Use of Sale Proceeds; Cancellation of Bonds Acquired by Purchase; Payment of Capitalized Interest.
141.116 Bonds; use of sale proceeds; cancellation of bonds acquired by purchase; payment of capitalized interest. Sec. 16. Money received from the sale of bonds shall be used solely for the payment of project costs. An unexpended balance of the proceeds of the sale of any bonds remaining after the completion of the project for […]
Section 141.117 – Bonds; Validity of Signatures.
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 […]