141.127 Issuance of bonds by public corporation; applicable laws.
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141.127 Issuance of bonds by public corporation; applicable laws.
Sec. 27.
A public corporation issuing bonds under this act is subject to all of the following:
(a)If the public corporation issuing the bonds meets the requirements of qualified status under section 303(3) of the revised municipal finance act, 2001 PA 34, MCL 141.2303, the public corporation complies with section 319(1) of the revised municipal finance act, 2001 PA 34, MCL 141.2319.
(b)If the public corporation issuing the bonds does not meet the requirements of qualified status under section 303(3) of the revised municipal finance act, 2001 PA 34, MCL 141.2303, the public corporation meets the requirements of section 303(7) and
(8)and section 319(2) of the revised municipal finance act, 2001 PA 34, MCL 141.2303 and 141.2319.
(c)Section 321 of the revised municipal finance act, 2001 PA 34, MCL 141.2321.
History: 1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.127 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 1985, Act 26, Imd. Eff. May 31, 1985 ;-- Am. 2002, Act 465 , Imd. Eff. June 21, 2002