Sec. 23.
(1) Subject to subsection (2), a village shall not issue bonds unless the issuance is approved by a majority of the electors voting on the bond issuance at a regular or special village election. The election shall be conducted in accordance with the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992.
(2) Subsection (1) does not apply to any of the following:
(a) Obligations incurred by the village evidenced by contracts, notes, or assessments.
(b) Special assessment bonds.
(c) Bonds for the portion of the cost of local improvements to be paid by the village at large not to exceed 40% of the cost of the improvements.
(d) Emergency bonds.
(e) Bonds that the council is authorized by specific statute to issue without a vote of the electors.
(3) The expenses of the election shall be paid by the village as provided in section 642 of the Michigan election law, 1954 PA 116, MCL 168.642.
History: 1895, Act 3, Imd. Eff. Feb. 19, 1895 ;-- CL 1897, 2874 ;-- CL 1915, 2748 ;-- CL 1929, 1657 ;-- CL 1948, 69.23 ;-- Am. 1974, Act 4, Imd. Eff. Jan. 30, 1974 ;-- Am. 2003, Act 305, Eff. Jan. 1, 2005
Structure Michigan Compiled Laws
Act 3 of 1895 - The General Law Village Act (61.1 - 75.12)
3-1895-IX - Chapter IX Finance and Taxation. (69.1... 69.27)
Section 69.1 - Authority of Council to Levy Taxes; General Fund.
Section 69.2 - Authority of Council to Levy Taxes; General Highway Fund.
Section 69.3 - Repealed. 1958, Act 116, Eff. Sept. 13, 1958.
Section 69.4 - Authority of Council to Levy Taxes; Cemeteries; Tax Limit.
Section 69.7 - Auditing and Settling Accounts; Statement.
Section 69.7a - Commencement of Fiscal Year.
Section 69.8 - Village Taxes; Annual Assessment Roll; Contents; Certification of Determination.
Section 69.9 - Assessment Roll; Review by Township Board of Review.
Section 69.10, 69.11 - Repealed. 1967, Act 84, Eff. Nov. 2, 1967.
Section 69.12 - Annual Assessment Roll; Certification of Board of Review.
Section 69.13 - Assessment Roll; Council's Certificate to Treasurer; Contents.
Section 69.14 - Assessment Roll; Tax Apportionment by Assessor.
Section 69.16 - Taxes; Treasurer to Collect; Fees.
Section 69.17 - Taxes; Collection by Seizure of Personal Property.
Section 69.19 - Tax Sales; Proceeds, Deposit With County Treasurer.
Section 69.20 - Tax on Personal Property; Collection Suit.
Section 69.21 - Borrowing in Anticipation of Revenue Sharing or Taxes.
Section 69.22a - Repealed. 1998, Act 254, Imd. Eff. July 13, 1998.
Section 69.24 - Disbursements; Procedures.
Section 69.25 - Loans; Issuance and Execution of Bonds; Validation of Prior Bonds or Indebtedness.
Section 69.26, 69.27 - Repealed. 1974, Act 4, Imd. Eff. Jan. 30, 1974.