Michigan Compiled Laws
Act 59 of 1986 - Resort District Rehabilitation Act (125.2201 - 125.2219)
Section 125.2213 - Revenue Bonds.

Sec. 13.
The authority may borrow money and issue its negotiable revenue bonds for that money pursuant to the revenue bond act of 1933, Act No. 94 of the Public Acts of 1933, being sections 141.101 to 141.139 of the Michigan Compiled Laws. Except as otherwise provided in this act, a revenue bond issued by the authority shall not be considered a debt of the township or the state. By majority vote of the members of the township board, the township may make a limited tax pledge of its full faith and credit to support the authority's revenue bonds.
History: 1986, Act 59, Imd. Eff. Mar. 26, 1986

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 125 - Planning, Housing, and Zoning

Act 59 of 1986 - Resort District Rehabilitation Act (125.2201 - 125.2219)

Section 125.2201 - Short Title.

Section 125.2202 - Definitions.

Section 125.2203 - Resort District Authority; Establishment; Inclusion of Parcel of Property; Approval by Resolution; Nature and Powers of Authority; Tax Limitations.

Section 125.2204 - Resolution of Intent to Create and Provide for Operation of Authority; Public Hearing; Notice; Right to Be Heard.

Section 125.2205 - Ordinance or Resolution Establishing Authority; Filing; Publication.

Section 125.2206 - Board; Appointment, Qualifications, and Terms of Members; Vacancy; Compensation; Election of Chairperson; Oath of Office.