Sec. 4.
(1) "Municipal bond" means a bond or note or other evidence of indebtedness payable from ad valorem taxes which a governmental unit may issue.
(2) "Municipal electric utility system" means a system owned by a municipality or combination of municipalities to furnish heat, power, and light.
(3) "Municipality" means a city, county, incorporated village, township, or metropolitan district of this state, or a board, agency, or commission thereof, owning a system or facility for the generation, transmission, or distribution of electric power and energy for public or private use, or proposing to own such a system or facility.
History: 1976, Act 448, Imd. Eff. Jan. 13, 1977
Structure Michigan Compiled Laws
Chapter 460 - Public Utilities
Act 448 of 1976 - Michigan Energy Employment Act of 1976 (460.801 - 460.848)
Article 1 - General Administrative Provisions (460.801...460.816)
Section 460.801 - Short Title.
Section 460.802 - Meanings of Words and Phrases.
Section 460.803 - Definitions; E to J.
Section 460.804 - Definitions; M.
Section 460.805 - Definitions; P.
Section 460.806 - Definitions; P to R.
Section 460.808 - Fuel Sources and Reserves; Facilities for Transportation and Storage.
Section 460.809 - Facilities for Transmission of Energy; Contracts With Other Power Utilities.
Section 460.810 - Electric Utility Facilities; Exercise of Authority by Governing Body.
Section 460.812 - Financing Cost of Electric Utility Facility; Bonds.
Section 460.813 - Exemption From Taxation.
Section 460.814 - License Agreements.