Home/Michigan/Statutes/Ch. 141: MUNICIPAL FINANCING/Act 227 of 1985: SHARED CREDIT RATING ACT (141.1051-141.1078)/§ 141.1054
Michigan Statutes

§ 141.1054 — Michigan municipal bond authority; created; powers; funds.

Michigan § 141.1054
JurisdictionMichigan
Ch. 141MUNICIPAL FINANCING
Act 227 of 1985SHARED CREDIT RATING ACT (141.1051-141.1078)

This text of Michigan § 141.1054 (Michigan municipal bond authority; created; powers; funds.) 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 § 141.1054 (2026).

Text

SHARED CREDIT RATING ACT (EXCERPT) Act 227 of 1985 141.1054 Michigan municipal bond authority; created; powers; funds. Sec.

4.The Michigan municipal bond authority is created as a body corporate, separate and distinct from the state. The authority may sue and be sued, plead and be impleaded, contract and be contracted with, have a corporate seal, and enjoy and carry out all powers granted it in this act. Funds of the authority shall be handled in the same manner and subject to the same provisions of law applicable to state funds or in such manner as is specified in a resolution of the authority authorizing the issuance of bonds or notes.

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Legislative History

1985, Act 227, Eff. Mar. 31, 1986

Nearby Sections

15
§ 141.1001
Short title.
§ 141.1002
State administrative board; powers and duties; actions of board.
§ 141.1003
Cities or counties authorized to borrow money and issue general obligation bonds or obligations to fund operating deficit.
§ 141.1004
Application for order approving bonds or obligations; resolution; determination of accumulated operating deficit; conditions and determinations; statement; issuance of order; determinations and findings conclusive; maximum amount of bonds or obligations; exceptions; bonds or obligations not subject to revised municipal finance act; agency financing reporting act applicable.
§ 141.1005
Bonds or obligations; amounts included.
§ 141.1006
Bonds or obligations; terms and conditions.
§ 141.1007
Levy of property taxes for payment of principal and interest on bonds or obligations.
§ 141.1008
Issuing bonds or obligations as limited tax bonds or obligations; resolution without vote of electors and publication of notice; submitting question to electors; approval or disapproval; prior actions.
§ 141.1009
Bonds or obligations issued before April 11, 1988; bonds or obligations issued after April 11, 1988 and before January 1, 2010; powers of legislative body; agreement providing for direct payment of distributable aid to paying agent, trustee, escrow agent, or other person; lien; special fund; use of taxes; definition.
§ 141.101
Short title; revenue bond act of 1933.
§ 141.1010
Action to enforce compliance with act.
§ 141.1011
Conditional effective date.
§ 141.102
Construction of act.
§ 141.103
Definitions.
§ 141.104
Municipal public improvements; limitations; bonds; acquiring utility for supplying light, heat or power; referendum; powers exercised.
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Bluebook (online)
Michigan § 141.1054, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/141/141.1054.