Sec. 33.
Unless otherwise provided in this act, the powers conferred upon public corporations by this act shall be exercised by their respective governing bodies and this act shall be construed as authorizing the issuance of bonds under this act without submitting the proposition for the approval of the proposition to the voters of the borrowers. Except in the case of refunding bonds or bonds issued to comply with an order of a court or an order or permit requirement of a state or federal agency of competent jurisdiction to prevent or limit pollution of the environment, the governing body shall publish a notice of intent to issue bonds. If within 45 days after the publication of the notice a petition, signed by not less than 10% or 15,000 of the registered electors, whichever is less, residing within the limits of the borrower, is filed with the clerk, or other recording officer, of the borrower, requesting a referendum upon the question of the issuance of the bonds, then the bonds shall not be issued until approved by the vote of a majority of the electors of the borrower qualified to vote and voting on the bonds at a general or special election. The notice shall be directed to the electors of the borrower, and, if the borrower is an authority, to the electors of its constituent public corporations, and shall be published in a newspaper which has general circulation in the territory of the borrower, and shall state the maximum amount of bonds to be issued, the purpose of the bonds, source of payment, right of referendum on the bonds, and other information the governing body determines necessary to adequately inform the electors of the nature of the issue. A special election called for this purpose shall not be included in a statutory or charter limitation as to the number of special elections to be called within a period of time. Signatures on the petition shall be verified by a person under oath, as the actual signatures of the persons whose names are signed to the petition, and the clerk, or other recording officer, of the borrower shall have the same power to reject signatures and petitions as city clerks pursuant to section 25 of Act No. 279 of the Public Acts of 1909, as amended, being section 117.25 of the Michigan Compiled Laws. The number of registered electors in any borrower shall be determined by the township or city registration books, or both, or if the borrower is a village, then by the village registration books. Section 5(g) of Act No. 279 of the Public Acts of 1909, as amended, being section 117.5 of the Michigan Compiled Laws, relative to notice of intention to issue bonds, shall not apply to the authorization of the issuance of bonds under this act.
History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- Am. 1947, Act 204, Imd. Eff. June 13, 1947 ;-- CL 1948, 141.133 ;-- Am. 1969, Act 79, Imd. Eff. July 23, 1969 ;-- Am. 1974, Act 27, Imd. Eff. Feb. 26, 1974 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978 ;-- Am. 1982, Act 188, Imd. Eff. June 21, 1982
Structure 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 141.105 - Estimate of Cost and Period of Usefulness.
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 141.112a - 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 141.117 - 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 141.120c - Parking Revenue Bonds; Special Assessments on Benefited Properties.
Section 141.122 - Accounting of Revenues; Order of Priority; Disposition of Surplus.
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 141.133a - 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.