Section 141.2103 – Definitions.
141.2103 Definitions. Sec. 103. As used in this act: (a) “Assessed value”, “assessed valuation”, “valuation as assessed”, and “valuation as shown by the last preceding tax assessment roll”, or similar terms, used in this act, any statute, or charter as a basis for computing limitations upon the taxing or borrowing power of any municipality, mean […]
Section 141.2105 – Municipal Security; Limitations.
141.2105 Municipal security; limitations. Sec. 105. A municipal security does not include any of the following: (a) A contract for the purchase of real or personal property. (b) A contract for the lease of real or personal property with or without an option to purchase. (c) A contract, lease, note, or other security given in […]
Section 141.2201 – Powers and Duties of Department.
141.2201 Powers and duties of department. Sec. 201. The department is authorized and directed to protect the credit of this state and its municipalities, and to enforce the provisions of this act, and has the following general powers: (a) To aid, advise, and consult with any municipality with respect to fiscal questions arising from and […]
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 141.1574 – Appropriation.
141.1574 Appropriation. Sec. 34. For the fiscal year ending September 30, 2013, $780,000.00 is appropriated from the general fund to the department of treasury to administer the provisions of this act and to pay the salaries of emergency managers. The appropriation made and the expenditures authorized to be made by the department of treasury are […]
Section 141.1634 – Financial Review Commission; Creation; Powers, Duties, Functions, and Responsibilities; Budgeting, Procurement, Personnel, and Related Management Functions; Qualified School District.
141.1634 Financial review commission; creation; powers, duties, functions, and responsibilities; budgeting, procurement, personnel, and related management functions; qualified school district. Sec. 4. (1) Except as provided in subsection (2), a financial review commission is created within the department of treasury for each qualified city and each qualified school district. Except as otherwise provided in this […]
Section 141.1575 – Appropriation.
141.1575 Appropriation. Sec. 35. (1) For the fiscal year ending September 30, 2013, $5,000,000.00 is appropriated from the general fund to the department of treasury to administer the provisions of this act, to secure the services of financial consultants, lawyers, work-out experts, and other professionals to assist in the implementation of this act, and to […]
Section 141.1635 – Financial Review Commission; Membership; Financial Review Commission for Both Qualified City and Qualified School District; Exception; Terms; Compensation; Travel and Expenses; Chairperson; Quorum; Conducting Business at Public Meetings; Writings Subject to Freedom of Information Act; Bylaws; Professional Services; Members and Contractors or Agents Subject to MCL 15.321 to 15.330 and MCL 15.301 to 15.310; Adoption of Ethics Policy; Oath of Office.
141.1635 Financial review commission; membership; financial review commission for both qualified city and qualified school district; exception; terms; compensation; travel and expenses; chairperson; quorum; conducting business at public meetings; writings subject to freedom of information act; bylaws; professional services; members and contractors or agents subject to MCL 15.321 to 15.330 and MCL 15.301 to 15.310; […]