141.441 Definitions. Sec. 1. As used in this act: (a) “Fund” means a budget stabilization fund. (b) “Municipality” means a county, city, village, or township. History: 1978, Act 30, Imd. Eff. Feb. 24, 1978 ;– Am. 1980, Act 192, Imd. Eff. July 8, 1980
141.442 Budget stabilization fund; creation. Sec. 2. The governing body of a municipality by an ordinance adopted by a 2/3 vote of the members elected and serving may create a budget stabilization fund. History: 1978, Act 30, Imd. Eff. Feb. 24, 1978
141.443 Budget stabilization fund; appropriation; additional taxes prohibited; limitation; investments; disposition of excess money. Sec. 3. (1) Each fiscal year following the fiscal year in which a fund is created, the governing body of the municipality that created the fund may appropriate to the fund, by an ordinance or resolution adopted by a 2/3 vote […]
141.444 Budget stabilization fund; purposes; sufficiency of municipality’s revenue. Sec. 4. (1) Money in the budget stabilization fund may be appropriated by an ordinance or resolution adopted by a 2/3 vote of the members elected and serving of the governing body of the municipality which created the fund for the following purposes: (a) To cover […]
141.445 Budget stabilization fund; prohibitions. Sec. 5. The money in the budget stabilization fund shall not be appropriated for the acquisition, construction, or alteration of a facility as part of a general capital improvements program. History: 1978, Act 30, Imd. Eff. Feb. 24, 1978 ;– Am. 1980, Act 192, Imd. Eff. July 8, 1980
