Section 141.110 – Receiverships for Public Improvements.
141.110 Receiverships for public improvements. Sec. 10. If there be any default in the payment of the principal of or interest upon any of said bonds, any court having jurisdiction in any proper action may appoint a receiver to administer and operate on behalf of the borrower, under the direction of said court, any public […]
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 141.101 – Short Title; Revenue Bond Act of 1933.
141.101 Short title; revenue bond act of 1933. Sec. 1. This act shall be known and may be cited as “the revenue bond act of 1933.” History: 1933, Act 94, Imd. Eff. May 26, 1933 ;– Am. 1935, Act 66, Imd. Eff. May 17, 1935 ;– Am. 1939, Act 2, Imd. Eff. Feb. 15, 1939 […]
Section 141.102 – Construction of Act.
141.102 Construction of act. Sec. 2. This act shall be construed as cumulative authority for the exercise of the powers herein granted and shall not be construed to repeal any existing laws with respect thereto, it being the purpose and intention of this act to create full and complete additional and alternate methods for the […]
Section 141.103 – Definitions.
141.103 Definitions. Sec. 3. As used in this act: (a) “Public corporation” means a county, city, village, township, school district, port district, or metropolitan district of the state or a combination of these if authorized by law to act jointly; an authority created by or under an act of the legislature; or a municipal health […]
Section 141.104 – Municipal Public Improvements; Limitations; Bonds; Acquiring Utility for Supplying Light, Heat or Power; Referendum; Powers Exercised.
141.104 Municipal public improvements; limitations; bonds; acquiring utility for supplying light, heat or power; referendum; powers exercised. Sec. 4. Any public corporation is authorized to purchase, acquire, construct, improve, enlarge, extend or repair 1 or more public improvements and to own, operate and maintain the same, within or without its corporate limits, and to furnish […]
Section 141.105 – Estimate of Cost and Period of Usefulness.
141.105 Estimate of cost and period of usefulness. Sec. 5. Whenever the governing body of any public corporation shall determine to purchase, acquire, construct, improve, enlarge, extend and/or repair any public improvement and to issue bonds under this act, it shall first cause an estimate to be made of the cost and the period of […]
Section 141.106 – Ordinances; Adoption; Purpose; Approval or Disapproval; Veto; Effective Date; Referendum; Record; Authentication; Publication.
141.106 Ordinances; adoption; purpose; approval or disapproval; veto; effective date; referendum; record; authentication; publication. Sec. 6. The governing body of a public corporation by the affirmative vote of a majority of its elected members, at the meeting at which it is introduced or any subsequent meeting, may adopt an ordinance relating to the exercise of […]
Section 141.107 – Bonds; Issuance; Form; Term; Interest; Exclusion From Net Bonded Indebtedness; Registration; Pledge of Funds; Statutory First Lien.
141.107 Bonds; issuance; form; term; interest; exclusion from net bonded indebtedness; registration; pledge of funds; statutory first lien. Sec. 7. (1) For the purpose of defraying the whole or a part of project costs, a public corporation may borrow money and issue its negotiable bonds. The bonds shall not be issued unless and until authorized […]