Michigan § 125.2482 Authority board; bonds and notes; issuance; amount.

Michigan Statutes

§ 125.2482 — Authority board; bonds and notes; issuance; amount.

Michigan § 125.2482

Ch. 125PLANNING, HOUSING, AND ZONING

Act 173 of 1992LAND RECLAMATION AND IMPROVEMENT AUTHORITY ACT (125.2451-125.2488)

This text of Michigan § 125.2482 (Authority board; bonds and notes; issuance; amount.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 125.2482 (2026).

Text

LAND RECLAMATION AND IMPROVEMENT AUTHORITY ACT (EXCERPT) Act 173 of 1992 125.2482 Authority board; bonds and notes; issuance; amount. Sec. 32.

(1)After the special assessment roll for an improvement is confirmed, the authority board may borrow money and issue the bonds and notes of the authority in anticipation of the collection of special assessments to defray all or any part of the cost of the improvement. The bonds and notes shall not exceed the amount of the special assessments in anticipation of the collection of which they are issued. Bonds or notes may be issued in anticipation of the collection of special assessments levied in respect to 1 or more improvements.

(2)The issuance of bonds and notes under this section is subject to the revised municipal finance act, 2001 PA 34, MCL 1

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LAND RECLAMATION AND IMPROVEMENT AUTHORITY ACT (EXCERPT) Act 173 of 1992 125.2482 Authority board; bonds and notes; issuance; amount. Sec. 32. (1) After the special assessment roll for an improvement is confirmed, the authority board may borrow money and issue the bonds and notes of the authority in anticipation of the collection of special assessments to defray all or any part of the cost of the improvement. The bonds and notes shall not exceed the amount of the special assessments in anticipation of the collection of which they are issued. Bonds or notes may be issued in anticipation of the collection of special assessments levied in respect to 1 or more improvements. (2) The issuance of bonds and notes under this section is subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.