MCL - Act 284 of 1998


Act 284 of 1998

AN ACT to authorize the issuance of general obligation bonds of the state and to pledge the full faith and credit of the state for the payment of principal and interest on the bonds to finance environmental and natural resources protection programs that would clean up and redevelop contaminated sites, protect and improve water quality, prevent pollution, abate lead contamination, reclaim and revitalize community waterfronts, enhance recreational opportunities, and clean up contaminated sediments in lakes, rivers, and streams; to pay for issuing the bonds; to provide for other measures relating to the bonds; and to provide for the submission of the question of the issuance of the bonds to the electors of the state.

History: 1998, Act 284, Imd. Eff. July 27, 1998
Compiler's Notes: Act 284 of 1998, known as the Clean Michigan Initiative Act, which was approved by the Governor and filed with the Secretary of State on July 27, 1998, provides that bonds “shall not be issued under this act unless the question set forth in section 5 [MCL 324.95105] is approved by a majority vote of the registered electors voting on the question.” In accordance with Const 1963, art 9, sec 15, the question of borrowing a sum not to exceed $675,000,000.00 and the issuance of the general obligation bonds of the state for the purposes set forth in this act was submitted to the qualified electors of the state at the November 3, 1998, general election as Proposal C. Proposal C was approved by a majority of the electors voting thereon at the November 3, 1998, general election.

The People of the State of Michigan enact:
Document Type Description
Section 324.95101 Section Short title.
Section 324.95102 Section Bonds; limitation on amount; issuance; full faith and credit; purpose.
Section 324.95103 Section Bonds; issuance; conditions and procedures.
Section 324.95104 Section Sale of bonds; disposition of proceeds; disbursement; expenditure.
Section 324.95105 Section Borrowing and issuance of bonds; submission of question to vote of electors.
Section 324.95106 Section Performance of acts by secretary of state.
Section 324.95107 Section Approval by vote required.
Section 324.95108 Section Payment on outstanding bonds; costs; annual executive budget.