Home/Michigan/Statutes/Ch. 141: MUNICIPAL FINANCING/Act 161 of 1923: BOARD OF SINKING FUND COMMISSIONERS (141.31-141.40)/§ 141.37
Michigan Statutes

§ 141.37 — Bond sale; interest, credit; expenses of commissioners.

Michigan § 141.37
JurisdictionMichigan
Ch. 141MUNICIPAL FINANCING
Act 161 of 1923BOARD OF SINKING FUND COMMISSIONERS (141.31-141.40)

This text of Michigan § 141.37 (Bond sale; interest, credit; expenses of commissioners.) 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 § 141.37 (2026).

Text

BOARD OF SINKING FUND COMMISSIONERS (EXCERPT) Act 161 of 1923 141.37 Bond sale; interest, credit; expenses of commissioners. Sec.

7.Whenever any issue of the bonds of the county shall be sold for more than par value all the premium and accrued interest shall be credited and belong to the sinking fund. All the interest paid to the county on securities held by the county shall belong to and be placed in the sinking fund. The board of sinking fund commissioners shall receive their actual expenses incurred in the performance of their duties which shall be a proper charge against the county to be paid from the general fund.

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Legislative History

1923, Act 161, Eff. Aug. 30, 1923 ;-- CL 1929, 1252 ;-- CL 1948, 141.37

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 § 141.37, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/141/141.37.