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Michigan Legislature
Michigan Compiled Laws Complete Through PA 48 of 2019
House: Adjourned until Thursday, October 17, 2019 12:00:00 PM
Senate: Adjourned until Thursday, October 17, 2019 10:00:00 AM

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Act 121 of 1969
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Act 121 of 1969

AN ACT to authorize counties, cities, townships and villages to issue bonds or notes, and pledge deferred income from sale of capital assets, due and payable but which has not been received, for the payment of principal and interest thereon; and to authorize the county, city, township or village to pledge its full faith and credit for the payment of the bonds or notes.

History: 1969, Act 121, Imd. Eff. July 29, 1969

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 141.381SectionIssuance of bonds and notes; resolution; purpose; pledges; use of proceeds; debt limitation; general obligations.
Section 141.382SectionForm and execution of bonds or notes; principal and interest; maximum due in one year; due dates; tax exemptions.
Section 141.383SectionBonds or notes subject to MCL 141.2101 to 141.2821.
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