HOUSE BILL No. 4590


     April 9, 1997, Introduced by Reps. Schermesser, DeHart, Leland, Hale, Wojno, Parks, Mans, Thomas, Schauer, Kilpatrick, Bogardus, Rison, Quarles, Martinez, Scott, Varga and Kaza and referred to the Committee on Commerce.


        A bill to amend 1925 PA 381, entitled

   "An act to authorize certain counties to combine for the purpose
   of planning systems of inter-county highways, super-highways and
   limited access highways; to define the terms "super-highways" and
   "limited access highways"; to authorize the establishment of
   inter-county highway commissions; to prescribe their powers and
   duties; to provide for the appropriation of funds therefor; and
   to empower counties to legislate with respect thereto,"

   by amending section 6 (MCL 252.6).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         Sec. 6.  (1)  The  WITHIN THE LIMITS OF THE FUNDS PROVIDED

 2    BY PARTICIPATING COUNTIES, THE commission shall name its officers

 3    from its membership, except as  herein  otherwise provided IN

 4    THIS ACT, and shall  have power to engage such  APPOINT engi-

 5    neers, attorneys, officers, agents, and  such  other employees as

 6    may be necessary  , within the limitation of funds provided by

 7     the participating counties  TO CARRY OUT ITS DUTIES.




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 1         (2)  It  THE COMMISSION shall keep a record of its

 2    proceedings and designate 2 or more of its members to sign and

 3    countersign all warrants, DRAFTS, CHECKS, and orders  on its

 4     treasurers  FOR THE PAYMENT OF MONEY.

 5         (3)  It  THE COMMISSION shall make an annual report to each

 6    county in the district of money received and expended  .  It may 

 7    AND SHALL designate a  national bank, a state bank, or a trust

 8     company organized under Michigan law  FINANCIAL INSTITUTION as

 9    the depository  or depositories  of its funds and arrange for

10    interest on daily balances.

11         (4) ASSETS ACCEPTABLE FOR PLEDGING TO SECURE DEPOSITS OF

12    COMMISSION FUNDS ARE CONSIDERED ACCEPTABLE TO THE STATE TREASURER

13    UNDER SECTION 3 OF 1855 PA 105, MCL 21.143, TO SECURE DEPOSITS OF

14    THE STATE SURPLUS FUNDS.

15         (5) AS USED IN THIS SECTION, "FINANCIAL INSTITUTION" MEANS A

16    STATE OR NATIONALLY CHARTERED BANK, SAVINGS AND LOAN ASSOCIATION,

17    SAVINGS BANK, OR CREDIT UNION WHOSE DEPOSITS ARE INSURED BY AN

18    AGENCY OF THE UNITED STATES GOVERNMENT AND WHICH MAINTAINS A

19    PRINCIPAL OFFICE OR BRANCH OFFICE LOCATED IN MICHIGAN UNDER THE

20    AUTHORITY OF THE LAWS OF MICHIGAN OR OF THE UNITED STATES.

















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