Home/Michigan/Statutes/Ch. 141: MUNICIPAL FINANCING/Act 94 of 1933: THE REVENUE BOND ACT OF 1933 (141.101-141.140)/§ 141.131
Michigan Statutes

§ 141.131 — Redemption of bonds before maturity.

Michigan § 141.131
JurisdictionMichigan
Ch. 141MUNICIPAL FINANCING
Act 94 of 1933THE REVENUE BOND ACT OF 1933 (141.101-141.140)

This text of Michigan § 141.131 (Redemption of bonds before maturity.) 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 § 141.131 (2026).

Text

THE REVENUE BOND ACT OF 1933 (EXCERPT) Act 94 of 1933 141.131 Redemption of bonds before maturity. Sec.

31.The governing body of the borrower authorizing bonds under this act may make provisions in the authorizing ordinance for the redemption before maturity of the bonds or a part of the bonds. In case of refunding, bonds of an issue less than all the outstanding bonds of the issue, shall not be called for redemption unless the borrower has on hand in its bond and interest redemption fund sufficient money to refund the bonds not otherwise appropriated or pledged, in excess of the amount of interest and principal maturing within the next 12 months from the redemption date.

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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, 141.131 ;-- Am. 1978, Act 216, Imd. Eff. June 5, 1978

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 § 141.131, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/141/141.131.