Home/Michigan/Statutes/Ch. 141: MUNICIPAL FINANCING/Act 94 of 1933: THE REVENUE BOND ACT OF 1933 (141.101-141.140)/§ 141.130
Michigan Statutes

§ 141.130 — Books of record and account; annual audit report.

Michigan § 141.130
JurisdictionMichigan
Ch. 141MUNICIPAL FINANCING
Act 94 of 1933THE REVENUE BOND ACT OF 1933 (141.101-141.140)

This text of Michigan § 141.130 (Books of record and account; annual audit report.) 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 § 141.130 (2026).

Text

THE REVENUE BOND ACT OF 1933 (EXCERPT) Act 94 of 1933 141.130 Books of record and account; annual audit report. Sec. 30.

(1)Any borrower issuing revenue bonds under this act shall install, maintain, and keep proper books of record and account, separate from other records and accounts of such borrower, in which full and correct entries shall be made of all dealings or transactions of or in relation to the properties, business, and affairs of the public improvement.
(2)Each public corporation shall file an audit report annually with the department of treasury within 6 months from the end of its fiscal year or as otherwise provided in the uniform budgeting and accounting act, 1968 PA 2, MCL 141.421 to 141.440a.

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Legislative History

1933, Act 94, Imd. Eff. May 26, 1933 ;-- Am. 1941, Act 210, Imd. Eff. June 16, 1941 ;-- Am. 1946, 1st Ex. Sess., Act 23, Eff. June 7, 1946 ;-- CL 1948, 141.130 ;-- Am. 1963, Act 192, Eff. Sept. 6, 1963 ;-- Am. 1983, Act 76, Imd. Eff. June 6, 1983 ;-- Am. 2002, Act 465 , Imd. Eff. June 21, 2002

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 § 141.130, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/141/141.130.