Michigan Compiled Laws
Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)
Section 141.106 - Ordinances; Adoption; Purpose; Approval or Disapproval; Veto; Effective Date; Referendum; Record; Authentication; Publication.

Sec. 6.
The governing body of a public corporation by the affirmative vote of a majority of its elected members, at the meeting at which it is introduced or any subsequent meeting, may adopt an ordinance relating to the exercise of the powers granted in this act and to other matters necessary or desirable to effectuate this act, to provide for the adequate operation of a public improvement established under this act, and to insure the security of bonds issued. The adoption shall be subject to applicable statutory or charter provisions in respect to the approval or disapproval of the chief executive or other officer of the public corporation and the adoption of the ordinance over his or her veto, except in case of the adoption of an ordinance under this act by the board of commissioners of a county, it shall not be necessary to submit the ordinance to the governor for approval. An ordinance adopted under this act shall become effective upon its adoption unless otherwise specified in the ordinance. It shall not be subject to a referendum vote of the electors of the public corporation except as provided in section 33. The ordinance shall be recorded in the minutes of the meeting of the governing body of the public corporation as soon as practicable after its passage. The record shall be authenticated by the signatures of the presiding officer and the clerk or other recording officer of the governing body. The ordinance shall be published once in a newspaper of general circulation within the boundaries of the public corporation. The publication of the ordinance as a part of the minutes of the meeting at which it was adopted, shall be considered a publication in conformity with this act. Except as otherwise provided in this act, this section shall constitute the sole requirements in respect to the adoption and publication of an ordinance and shall not be limited by a charter or statutory provisions.
History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1943, Act 219, Imd. Eff. Apr. 20, 1943 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.106 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 141 - Municipal Financing

Act 94 of 1933 - The Revenue Bond Act of 1933 (141.101 - 141.140)

Section 141.101 - Short Title; Revenue Bond Act of 1933.

Section 141.102 - Construction of Act.

Section 141.103 - Definitions.

Section 141.104 - Municipal Public Improvements; Limitations; Bonds; Acquiring Utility for Supplying Light, Heat or Power; Referendum; Powers Exercised.

Section 141.105 - Estimate of Cost and Period of Usefulness.

Section 141.106 - Ordinances; Adoption; Purpose; Approval or Disapproval; Veto; Effective Date; Referendum; Record; Authentication; Publication.

Section 141.107 - Bonds; Issuance; Form; Term; Interest; Exclusion From Net Bonded Indebtedness; Registration; Pledge of Funds; Statutory First Lien.

Section 141.107a - Powers of Public Corporation in Determining to Issue Bonds; Terms of Payment; Interest; Sale or Remarketing; Tender of Bonds by Holders; Determining Aggregate Authorized Amount of Bonds Outstanding; Remarketing or Resale of Tendere...

Section 141.107b - Delinquent Tax Revolving Fund; Continuation Under MCL 211.87b; Borrowing Money and Issuing Revenue Notes; Order; Delinquent Tax Revenue as Security; Segregated Fund or Account; Requirements Applicable to Notes; Limited Tax Full-Fai...

Section 141.108 - Lien on Revenue in Favor of Bondholders.

Section 141.109 - Statutory Lien on Net Revenues; Duration; Enforcement.

Section 141.110 - Receiverships for Public Improvements.

Section 141.111 - Bonds; Application of Other Laws and Charters.

Section 141.112 - Bonds; Discount; Sale Price; Interest; Competitive or Negotiated Sale; Notice; Publication.

Section 141.112a - Bonds Subject to Revised Municipal Finance Act.

Section 141.112b - Bulletins; Issuance by Department of Treasury.

Section 141.113 - Bonds; Statement on Face of Bond or on Face of Interest Coupon.

Section 141.114 - Bonds; Qualities of Negotiable Instruments.

Section 141.115 - Bonds; Deposit and Investment of Sale Proceeds.

Section 141.116 - Bonds; Use of Sale Proceeds; Cancellation of Bonds Acquired by Purchase; Payment of Capitalized Interest.

Section 141.117 - Bonds; Validity of Signatures.

Section 141.118 - Charges for Services; Providing Medical Care Without Charge or at Reduced Rates.

Section 141.119 - Additional Bonds.

Section 141.120 - Revenue Refunding Bonds.

Section 141.120a - Combined Public Improvements; Bonds; Revenues Pledged; Retirement.

Section 141.120b - Issuance of Revenue Bonds to Retire Outstanding Bonds for Public Improvements; Revenue Refunding Bonds; Noncallable Unmatured Bonds.

Section 141.120c - Parking Revenue Bonds; Special Assessments on Benefited Properties.

Section 141.121 - Rates for Services; Sufficiency; Fixing and Revising; Pledge for Payment of Bonds; Charges for Services as Lien on Premises; Certification of Delinquent Charges; Notice of Tenants' Responsibility for Payment of Charges; Cash Deposit...

Section 141.121a - Issuance of Notes; Requirement That Delinquent Tax Revenues Be Fixed and Sufficient; Statutory Lien.

Section 141.122 - Accounting of Revenues; Order of Priority; Disposition of Surplus.

Section 141.122a - Delinquent Tax Revenues; Statutory Lien; Commingling; Designation of Note and Interest Redemption Account; Set Aside of Reasonable Excess Amount; Reserve; Transfer of Surplus to County General Fund.

Section 141.123 - Appropriation and Use of Revenues for Payment of Operation and Maintenance Expenses; Appropriation and Use of Moneys Raised by Tax Levy.

Section 141.124 - Money in Several Accounts of Public Improvement; Separate Deposit Account; Investment.

Section 141.124a - Deposit Accounts.

Section 141.125 - Fixing Dates of Operating Year for Public Improvement.

Section 141.126 - Receiving Fund Surplus; Deposit.

Section 141.127 - Issuance of Bonds by Public Corporation; Applicable Laws.

Section 141.128 - Effect of Approval Permitting Issuance of Bonds.

Section 141.129 - Service Rates Not Subject to Supervision by State Agency.

Section 141.130 - Books of Record and Account; Annual Audit Report.

Section 141.131 - Redemption of Bonds Before Maturity.

Section 141.132 - Breach of Contract Not Authorized; Pledging of Revenues; Disconnection of Lands Not to Affect Liability Under Bond Issue.

Section 141.133 - Issuance of Bonds Without Submitting Proposition to Voters for Approval; Notice of Intent to Issue Bonds; Petition Requesting Referendum; Special Election; Verification and Rejection of Signatures; Determining Number of Registered E...

Section 141.133a - Validation of Bonds Heretofore Issued.

Section 141.133b - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.

Section 141.134 - Liberal Construction of Act.

Section 141.136 - Immediate Necessity.

Section 141.137 - Condemnation of Property.

Section 141.138 - Trustee; Appointment; Powers and Duties; Pledging of Trust Funds.

Section 141.139 - Water Pollution; Prevention or Abatement; Public Corporation May Accept Grants or Aid From u.s. Government.

Section 141.140 - Allocation System for Private Activity Bonds; Establishment; Purpose; Applicability; Ratification of Prior Allocations; Revocation of Allocation; Applicability of Subsection (1).