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34-2001-I - Part I Definitions (141.2101...141.2105)
Section 141.2101 - Short Title. - Sec. 101. This act shall be known and may be...
Section 141.2103 - Definitions. - Sec. 103. As used in this act: (a) "Assessed value",...
Section 141.2105 - Municipal Security; Limitations. - Sec. 105. A municipal security does not include any of...
34-2001-II - Part II Powers (141.2201...141.2203)
Section 141.2201 - Powers and Duties of Department. - Sec. 201. The department is authorized and directed to protect...
Section 141.2203 - Appeal of Department Determination. - Sec. 203. If a municipality feels aggrieved by a determination...
34-2001-III - Part III General (141.2301...141.2323)
Section 141.2301 - Issuance of Municipal Security. - Sec. 301. A municipality shall not issue a municipal security...
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. - Sec. 303. (1) Each municipality shall file an audit report...
Section 141.2304 - Issuance of Municipal Security; Provisions Applicable to Contracting Municipalities. - Sec. 304. If a municipality issues a municipal security subject...
Section 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...
Section 141.2307 - Proposed Bulletin; Public Comment Period. - Sec. 307. Before any bulletin issued by the department can...
Section 141.2308 - Limited Tax Full Faith and Credit Pledge; Notice. - Sec. 308. If a municipality issues a municipal security that...
Section 141.2309 - Sale of Municipal Security at Competitive or Negotiated Sale; Requirements. - Sec. 309. (1) A municipality may sell an authorized municipal...
Section 141.2311 - Municipal Security; Registration; Facsimile Signatures; Transfer of Ownership; Delivery; Validity of Signature of Former Officer. - Sec. 311. (1) A municipal security may be registrable as...
Section 141.2313 - Mutilated Security; Substitution. - Sec. 313. If a municipal security has become mutilated, then...
Section 141.2315 - Issuance of Municipal Security; Determination; Payment on Demand; Contrary Ordinance or Charter Provision. - Sec. 315. (1) In determining to issue a municipal security,...
Section 141.2317 - Interest Rate Exchange or Swap, Hedge, or Similar Agreement; Definitions. - Sec. 317. (1) For the purpose of more effectively managing...
Section 141.2319 - Document to Be Filed by Municipality; Failure to Comply With Subsection (1) or (2). - Sec. 319. (1) Within 15 business days of completing the...
Section 141.2321 - Filing in Electronic Format. - Sec. 321. The department may require that the filings to...
Section 141.2323 - Municipal Security Issued Without Department Approval; Rating. - Sec. 323. The department may require a rating for a...
34-2001-IV - Part IV Short-Term Municipal Securities (141.2401...141.2415)
Section 141.2401 - Short-Term Municipal Securities; Issuance; Conditions; Public Airport Authority. - Sec. 401. (1) A municipality may, by resolution of its...
Section 141.2403 - Resolution Authorizing Municipal Security; Tax Levy Provision; Operating Expenditures; Limitation; Set Aside of Taxes Collected; Tax Installments; Capital Improvements; Debt Service Charges. - Sec. 403. (1) If a municipality issues a municipal security...
Section 141.2405 - Issuance of Short-Term Municipal Securities; Payments Allowed; Operating Expenditures or Debt Service Charges; Limitation; Authorizing Resolution; Set Aside of Taxes Collected; Capital Improvements; Deduction of Outstanding Princip... - Sec. 405. (1) A municipality may issue short-term municipal securities...
Section 141.2407 - Anticipation of Revenue Sharing Payments; Issuance of Short-Term Municipal Securities; Payment of Operating Expenditures; Authorizing Resolution; Set Aside of Amounts for Payment of Principal and Interest. - Sec. 407. (1) A municipality may, by resolution of its...
Section 141.2409 - Interest Rate; Limitation; Payment. - Sec. 409. A municipal security issued pursuant to this part...
Section 141.2411 - Money Deposited in Special Fund; Use. - Sec. 411. The money in each special fund required by...
Section 141.2413 - Anticipation of Long-Term Municipal Security Proceeds; Issuance of Short-Term Municipal Security; Authorization of Principal, Interest, and Redemption Premiums; Limitation on Principal Amount; Use of Proceeds. - Sec. 413. (1) A municipality may by resolution of its...
Section 141.2415 - Anticipation of State or Federal Grants; Issuance of Short-Term Municipal Security; Pledge of Grant Proceeds as Payment of Principal, Interest, and Redemption Premiums; Limitation on Principal Amount; Use of Municipal Security Proc... - Sec. 415. (1) A municipality may by resolution of its...
34-2001-V - Part V Long-Term Municipal Securities (141.2501...141.2518)
Section 141.2501 - Maturity Time Periods. - Sec. 501. (1) Except as otherwise provided for by law,...
Section 141.2503 - Municipal Securities of a Single Issue; Maturity or Redemption Date; Purchase at Open Market; Redemption Requirements; Municipal Securities of School District; Municipal Security Issued by County, City, Village, or Township Pursuan... - Sec. 503. (1) Municipal securities of a single issue may...
Section 141.2505 - Municipal Securities Secured by Special Assessments. - Sec. 505. The total amount of municipal securities secured by...
Section 141.2507 - Interest Rate Charge on Special Assessments. - Sec. 507. A municipality issuing a municipal security in anticipation...
Section 141.2509 - Reserve Fund; Establishment. - Sec. 509. A municipality may pay interest that accrues on...
Section 141.2511 - Issuance of Municipal Securities to Fund County Drain Special Assessment. - Sec. 511. Any county, township, city, or village, by resolution...
Section 141.2513 - Debt Incurred; Issuance of Municipal Securities Secured by Limited Tax Full Faith and Credit Pledge. - Sec. 513. (1) A municipality by resolution of its governing...
Section 141.2515 - Water Supply or Sewage Disposal, Public Building, or Other Public Improvement; Delivery of Municipal Security to Defray Cost. - Sec. 515. (1) A municipality may deliver a municipal security...
Section 141.2517 - Capital Improvement Items; Issuance of Municipal Security to Pay Cost; Notice of Intent; Petition; Referendum; Special Election; Limitation on Amount. - Sec. 517. (1) A county, city, village, or township may...
Section 141.2518 - Payment of Unfunded Pension Liability or Unfunded Accrued Health Care Liability; Issuance of Municipal Security; Comprehensive Financial Plan; Requirements. - Sec. 518. (1) Through December 31, 2023, in connection with...
34-2001-VI - Part VI Refunding (141.2601...141.2613)
Section 141.2601 - Issuance of Refunding Securities. - Sec. 601. (1) Subject to this act, a municipality may,...
Section 141.2603 - Assumption of Outstanding Security by Another Municipality; Refunding. - Sec. 603. (1) Any outstanding security of a municipality that...
Section 141.2605 - Debt as Additional to Statutory or Charter Limitation of Tax Rate or Outstanding Debt Limit. - Sec. 605. The debt evidenced by a refunding security and...
Section 141.2607 - Application of Refunding Security Proceeds and Available Money. - Sec. 607. (1) Money on hand applicable to the retirement...
Section 141.2609 - Conditions for Securing Certain Outstanding Municipal Securities. - Sec. 609. A refunding security issued to refund municipal securities...
Section 141.2611 - Refund of Outstanding Securities by Issuance of Refunding Security; Prohibition; Exception; Procedures; Reasonable Basis. - Sec. 611. (1) Except as provided in section 515 or...
Section 141.2613 - Refunding Securities; Effect of 141.2503. - Sec. 613. Refunding securities are not subject to section 503(1),...
34-2001-VII - Part VII Tax Levies, Debt Retirement, and Sinking Fund (141.2701...141.2821)
Section 141.2701 - Annual Tax Levy; Determination; Limitation Not Applicable; Adjustment in Event of Surplus Funds; Use of Money Remaining in Debt Retirement Fund; Priority; Set Aside of Tax Collections Allocable to Principal and Interest Payment; Fa... - Sec. 701. (1) Subject to subsection (3), if a municipality...
Section 141.2705 - Debt Retirement Funds; Accounting; Use; Pooled or Combined for Deposit or Investment; Certification of Debt Retirement. - Sec. 705. (1) Debt retirement funds, except in the case...
Section 141.2707 - Sinking Fund; Use; Deposit; Accounting. - Sec. 707. Any municipality issuing a mandatory redemption refunding security...
34-2001-VII-VIII - Chapter VIII (141.2801...141.2821)
Section 141.2801 - Effective Date. - Sec. 801. This act takes effect March 1, 2002. History:...
Section 141.2802 - Outstanding Municipal Security; Default; Powers of Department; Plan; Implementation. - Sec. 802. (1) If a municipality fails to pay any...
Section 141.2803 - Repeal of MCL 131.1 to 132.4, 133.1 to 133.9, 133.12 to 133.15, and 134.1 to 139.3; Effective Date of Repeal of MCL 133.10 to 133.11. - Sec. 803. (1) The following are repealed effective March 1,...
Section 141.2805 - Repeal of Administrative Rules of Municipal Finance Division; Effective Date. - Sec. 805. The administrative rules of the municipal finance division...
Section 141.2807 - Exceptions From Prior Approval of Debts or Securities; Effect of Orders; Applicability of Terms. - Sec. 807. All orders granting exceptions from prior approval of...
Section 141.2809 - Effect of Orders Approving Issuance of Securities. - Sec. 809. All orders approving the issuance of securities issued...
Section 141.2811 - Effect of MCL 141.2303. - Sec. 811. Except as provided by sections 807 and 809,...
Section 141.2813 - Effect of MCL 141.2317. - Sec. 813. Except as provided by sections 807 and 809,...
Section 141.2815 - Repealed. 2002, Act 541, Imd. Eff. July 26, 2002. - Compiler's Notes: The repealed section pertained to exemption of certain...
Section 141.2817 - Effect of MCL 141.2305. - Sec. 817. Except as provided by sections 807 and 809,...
Section 141.2819 - Validation of Previously Issued Securities. - Sec. 819. Any securities previously issued under or in accordance...
Section 141.2821 - Issuance of Municipal Security Beginning March 1, 2002 and Ending April 30, 2002; Qualified Status. - Sec. 821. (1) Beginning March 1, 2002 and ending April...