Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 243 of 1980 - Emergency Municipal Loan Act (141.931 - 141.942)

Section 141.931 - Definitions. - Sec. 1. As used in this act: (a) "Board" means...

Section 141.932 - Local Emergency Financial Assistance Loan Board; Creation; Membership; Powers and Duties; Approval of Actions; Conducting Business at Public Meeting; Staff Services; Powers of Municipality. - Sec. 2. (1) There is created a local emergency financial...

Section 141.933 - Maximum Amount of Loans in Fiscal Year; Limitations; Conditions; Maintaining Loan Proceeds in Separate Account; Monitoring Expenditures; Loan Proceeds Subject to MCL 45.621 to 45.631; Revenue for Loans; Restructuring Payments; “Coun... - Sec. 3. (1) For state fiscal years ending before October...

Section 141.933a - Proceeds of a Loan; Special Assessment. - Sec. 3a. The proceeds of a loan issued under this...

Section 141.934 - Application for Loan by Municipality; Resolution; Certification of Information and Conditions; Inspection, Copying, or Auditing of Books and Records; Applicability of Subsection (1). - Sec. 4. (1) If the governing body of a municipality...

Section 141.935 - Repealed. 2016, Act 197, Imd. Eff. June 21, 2016. - Compiler's Notes: The repealed section pertained to limitation on board...

Section 141.936 - Annual Rate or Rates of Interest; Fixed Rate; Rate Calculated Upon Formula; Limitation; Payment of Interest and Principal; Delinquency; Repayment at Earlier Date or in Fewer Installments; Prohibited Conditions; Effect of Failure to... - Sec. 6. (1) A loan made under this act shall...

Section 141.936a - State Treasurer Selling or Transferring Loan; Security; Interest Rate; Terms; Notice. - Sec. 6a. (1) The state treasurer may sell or transfer...

Section 141.937 - Duties of Municipality Receiving Loan; Failure to Comply With Subsection (1) and 5-Year Plan; Definitions; Exception. - Sec. 7. (1) A municipality that receives a loan under...

Section 141.938 - Repealed. 2016, Act 197, Imd. Eff. June 21, 2016. - Compiler's Notes: The repealed section pertained to eligibility requirements for...

Section 141.939 - Annual Report; Evaluation of Loan Program; Recommendations. - Sec. 9. The board shall report annually to the governor...

Section 141.940 - Repealed. 1980, Act 324, Imd. Eff. Dec. 15, 1980. - Compiler's Notes: The repealed section pertained to local emergency financial...

Section 141.941 - Short Title. - Sec. 11. This act may be known and may be...

Section 141.942 - Conditional Effective Date. - Sec. 12. This act shall not take effect unless the...