Michigan Compiled Laws
40-1956-20. - Chapter 20. Intracounty Drains; Public Corporations. (280.461...280.499)
Section 280.496 - Drainage Board Funds; Investment of Surplus, Interest.

Sec. 496.
The drainage board may direct the treasurer of any drainage district to invest any surplus funds belonging to and under the control of the drainage board, in bonds and other direct obligations of the United States or in certificates of deposit or depository receipts of any bank which is a member of the federal deposit insurance corporation in such amounts and issues as shall be directed by the drainage board. The interest earnings from such investments shall be credited by the county treasurer to such drainage district funds.
History: Add. 1970, Act 144, Imd. Eff. Aug. 1, 1970 Popular Name: Act 40

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 280 - Drain Code of 1956

Act 40 of 1956 - The Drain Code of 1956 (280.1 - 280.630)

40-1956-20. - Chapter 20. Intracounty Drains; Public Corporations. (280.461...280.499)

Section 280.461 - Definitions.

Section 280.462 - County Drains; Public Health, Assessment Against Public Corporations.

Section 280.463 - Petition to Locate, Establish, and Construct County Drain; Determination; Filing and Contents of Petition; Notice; Certified Copy of Resolution; Authorizing Execution; Order of Determination.

Section 280.464 - Drainage Board; Creation; Members; Disqualification; Compensation, Mileage, and Expenses; County Drain Commissioner as Chairperson; Minutes, Records, and Files; Requirements for Substantive Actions and Determinations.

Section 280.465 - Meeting of Drainage Board; Notice; Affidavit of Mailing; Quorum; Adjournment; Action by Board; Signing of Orders.

Section 280.466 - Drainage Board; First Meeting, Notice.

Section 280.467 - Drainage Board; Tentative Determinations; Naming Drain and Drainage District; Composition of District; Objections; Notice of Hearing; Final Order of Determination; Eliminating or Adding Public Corporation.

Section 280.468 - Plans, Specifications, and Estimate of Cost; Approval, Adoption, and Filing; Route of Drain; Apportionment of Costs; Designation of Area to Be Served; Assumption of Additional Cost; Altering and Supplementing Proceedings.

Section 280.469 - Objections to Apportionments; Notice of Hearing; Confirmation or Readjustment of Apportionments; Notice of Rehearing; Final Order of Apportionment.

Section 280.470 - Drainage Board; Lands and Rights of Way, Condemnation; Procedure, Federal Government Participation; Costs.

Section 280.471 - Drainage Board; Contracts With Federal Government or Corporations; Bids.

Section 280.472 - Funds; County Treasurer, Deputies; Bonds; Expenditures.

Section 280.473 - Special Assessment Roll; Preparation; Estimated or Actual Costs; Annual Installments; Interest; Advance Payment; Altering and Supplementing Proceedings.

Section 280.474 - Special Assessment Roll; Contents; Approval; Statement; Certification to Assessed Public Corporation; Installments and Interest; Advances From County Funds; Notice; Deduction; Reimbursement; Assessments Against State; Sufficiency of...

Section 280.475 - Statutory or Charter Tax Limitations Inapplicable; Rate or Amount of Taxes.

Section 280.476 - Bonds; Issuance; Maturity; Mandatory Redemption; Signatures; Collection of Assessments.

Section 280.477 - Additional Assessment; Apportionment.

Section 280.478 - Drainage Board; Continuation; Responsibility; Expenses; Relinquishment; Moneys, Disposition, Consent.

Section 280.479 - Advancements by Corporations; Reimbursement.

Section 280.480 - Costs; Items.

Section 280.481 - Assessments Against Townships and Villages.

Section 280.482 - Improvements or Additions to Drains for Public Health.

Section 280.483 - Certiorari; Time; Legal Establishment of Drain.

Section 280.484 - Procedures; Incorporation of Other Chapters in Drainage Board Orders.

Section 280.485 - Relief Drains.

Section 280.486 - Drains to Which Chapter Applicable; Sufficiency of Petition.

Section 280.487 - Drainage Board; Absence of Members, Deputies, Vice-Chairman.

Section 280.488 - Additional Grant of Power; Prior Projects.

Section 280.489 - New Cities; Service of Notice on Township Clerks or De Facto City Officer.

Section 280.489a - Land Especially Benefited by Drain Project; Duties of Legislative Body; Affidavit as Conclusive Proof of Notice; Meeting; Powers of Legislative Body; Reimbursement for Pro Rata Share of Costs.

Section 280.490 - Land Especially Benefited by Drain Project; Special Assessment; Resolution; Preparation of Special Assessment Roll; Conduct of Proceedings; Objections; Hearing in Lieu of Meeting; Use of Special Assessment Collections; Reduction of...

Section 280.491 - River, Creek or Watercourse; Petition for Inclusion Within Jurisdiction.

Section 280.492 - Petition; Content, Deposit to Pay Cost; Drainage Board Hearing and Notice.

Section 280.493 - Final Order of Determination; Contents, Recording, Effect.

Section 280.494 - Final Order of Determination; Recording Effect on Private Rights.

Section 280.495 - Assessment of Cost; Hearing; Powers.

Section 280.496 - Drainage Board Funds; Investment of Surplus, Interest.

Section 280.497 - Use or Transfer of Surplus Construction Funds; Contract With Public Corporation; Provisions of Contract; Return of Surplus Construction Funds to State Transportation Department; Application of MCL 280.499; Definition.

Section 280.498 - Pollution in County Drain; Abatement; Petition.

Section 280.499 - Providing Amount From Surplus Construction Funds to Inspect, Repair, and Maintain Drain; Apportioning Balance of Surplus Construction Funds to Credit of Public Corporations; Use of Funds.