Section 141.2203 – Appeal of Department Determination.
141.2203 Appeal of department determination. Sec. 203. If a municipality feels aggrieved by a determination of the department, it may notify the department and appeal the determination of the department as a contested case pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. This section does not permit the […]
Section 141.2301 – Issuance of Municipal Security.
141.2301 Issuance of municipal security. Sec. 301. A municipality shall not issue a municipal security except in accordance with this act. History: 2001, Act 34, Eff. Mar. 1, 2002
Section 141.2303 – Annual Audit Report and Qualifying Statement; Filing by Municipality; Compliance Requirements; Determination; Correction of Noncompliant Requirements; Reconsideration; Order Granting Exception From Prior Approval.
141.2303 Annual audit report and qualifying statement; filing by municipality; compliance requirements; determination; correction of noncompliant requirements; reconsideration; order granting exception from prior approval. Sec. 303. (1) Each municipality shall file an audit report annually with the department within 6 months from the end of its fiscal year or as otherwise provided in the uniform […]
Section 141.2304 – Issuance of Municipal Security; Provisions Applicable to Contracting Municipalities.
141.2304 Issuance of municipal security; provisions applicable to contracting municipalities. Sec. 304. If a municipality issues a municipal security subject to this act and the principal and interest for that municipal security will be paid by 1 or more municipalities not issuing the municipal security under a contract, then 1 of the following applies: (a) […]
Section 141.2305 – Issuance of Municipal Security; Interest Rate; Sale at Discount; Rating; Maturity; Principal as Interest.
141.2305 Issuance of municipal security; interest rate; sale at discount; rating; maturity; principal as interest. Sec. 305. (1) A municipal security authorized by law to be issued by a municipality may, notwithstanding the provisions of a charter, bear no interest as provided in this section or a rate of interest not to exceed a maximum […]
Section 141.1636 – Duties of Commission; Review and Approval of Applicable Contracts; Reports; Approval of Collective Bargaining Agreements; Supplementary Information; Certification and Report of Debt Service.
141.1636 Duties of commission; review and approval of applicable contracts; reports; approval of collective bargaining agreements; supplementary information; certification and report of debt service. Sec. 6. (1) The commission shall provide oversight for a qualified city beginning on the effective date of the plan for adjustment or of this act, whichever is later. The commission […]
Section 141.2307 – Proposed Bulletin; Public Comment Period.
141.2307 Proposed bulletin; public comment period. Sec. 307. Before any bulletin issued by the department can take effect that addresses the filings, approvals, or determinations under section 303, or any modification of an existing bulletin that addresses the filings, approvals, or determinations under section 303, the department shall issue the bulletin or modification as a […]
Section 141.1637 – Commission; Powers.
141.1637 Commission; powers. Sec. 7. A commission may do 1 or more of the following for its qualified city or qualified school district: (a) For a qualified city, review and approve that qualified city’s consensus revenue estimate under section 4t of the home rule city act, 1909 PA 279, MCL 117.4t. The commission may also, […]
Section 141.2308 – Limited Tax Full Faith and Credit Pledge; Notice.
141.2308 Limited tax full faith and credit pledge; notice. Sec. 308. If a municipality issues a municipal security that contains the limited tax full faith and credit pledge of the municipality after October 1, 2002, a notice of at least 1 meeting at which a decision will be made or discussed with respect to the […]
Section 141.1638 – Waiver; Resolution; Conditions; Rescission; Reversal.
141.1638 Waiver; resolution; conditions; rescission; reversal. Sec. 8. (1) Notwithstanding section 6, for its qualified city or qualified school district, a commission shall, by resolution, waive the requirements designated in sections 6 and 7 as provided in subsection (2). (2) The commission shall grant a waiver under this section for its qualified city or qualified […]