141.31 Bond issues; requisite sinking funds. Sec. 1. That from and after the passage of this act, before any county in the state of Michigan shall issue any bonds except serial bonds and bonds having a special security, the legislative body of such county shall pass a resolution providing for the levying and assessment in […]
141.32 Sinking fund commissioners. Sec. 2. The county treasurer, the county clerk, the register of deeds, the chairman of the board of supervisors and the chairman of the finance committee of the board of supervisors of the several counties of this state shall constitute and be a board of sinking fund commissioners: Provided, however, That […]
141.33 Sinking fund commissioners; control of fund, application; payment, manner. Sec. 3. The said board of sinking fund commissioners shall have exclusive control of the money of the sinking fund and shall faithfully apply the same whenever possible, or it may appear to the county’s interests, to the payment of the principal and interest of […]
141.34 Sinking fund commissioners; handling of funds, investment; bonded debt. Sec. 4. The said board of sinking fund commissioners shall from time to time, as it shall deem expedient, purchase or pay the outstanding bonded debt of the county or such part thereof as it may be able to purchase or pay until the full […]
141.35 Sinking fund commissioners; annual meeting, procedure; rules; authorizing vote; clerk, records. Sec. 5. The annual meeting of the said board of sinking fund commissioners shall be held on the first Tuesday of each year. Said board may, however, meet from time to time for the transaction of business and may adopt rules of procedure […]
141.36 Sinking fund commissioners; condition reports to board; tax recommendations. Sec. 6. The board of sinking fund commissioners shall from time to time, but at least annually, and whenever requested by the board of supervisors, make report of the condition of the sinking fund, which report shall be made to the board of supervisors and […]
141.37 Bond sale; interest, credit; expenses of commissioners. Sec. 7. Whenever any issue of the bonds of the county shall be sold for more than par value all the premium and accrued interest shall be credited and belong to the sinking fund. All the interest paid to the county on securities held by the county […]
141.38 Suit on securities. Sec. 8. The said board of sinking fund commissioners shall have power and authority to bring suit for the purpose of enforcing the collection of any bonds or securities taken by it for the benefit of the sinking fund or for any purpose within the scope of their duties, but said […]
141.39 Saving clause; construction of act. Sec. 9. In any county within the state of Michigan, which may have elected to act under the provisions of Act No. 42 of the Public Acts of 1913, the provisions of said act shall continue in force in said county until said county shall by referendum elect to […]
141.40 Violation of MCL 168.1 to 168.992 applicable to petitions; penalties. Sec. 10. A petition under section 9, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954 PA 116, MCL 168.488. A person who violates a provision of the Michigan election law, 1954 PA 116, […]
