280.277 Drainage district bonds; delinquent assessments, advance by cities, villages, or townships; reimbursement; reassessment; validation of drain orders or bonds.
268 words·~1 min read·
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280.277 Drainage district bonds; delinquent assessments, advance by cities, villages, or townships; reimbursement; reassessment; validation of drain orders or bonds.
Sec. 277.
Whenever lands in any city, village, or township or combination thereof are assessed for all or any part of the cost of a drain, the governing body of each of the cities, villages, or townships by resolution adopted prior to the issuance of drain orders or bonds, or both, in anticipation of the payment of the assessments for the drain may agree that in the event of any delinquency in the collection of the assessments against lands in the cities, villages, or townships, the cities, villages, or townships shall advance the amount of the delinquency from unobligated funds in the general fund to the extent necessary to pay principal and interest on the drain orders or bonds, or both, as the same mature or are subject to mandatory redemption.
In the event that money is so advanced, the cities, villages, or townships shall be reimbursed from the collection of the delinquent assessments against lands within its boundaries. If the collections from special assessments are not sufficient to reimburse the cities, villages, or townships, the drain commissioner of the county shall, within a 5-year period from the date of advancement, reassess the drainage district in order to provide for the repayment of the sums so advanced.
However, this act does not validate any drain orders or bonds issued prior to March 28, 1956.
History: 1956, Act 40, Imd. Eff. Mar. 28, 1956 ;-- Am. 2016, Act 27 , Imd. Eff. Mar. 1, 2016
Popular Name: Act 40