Home/Michigan/Statutes/Ch. 141: MUNICIPAL FINANCING/Act 57 of 1957: LOCAL IMPROVEMENT REVOLVING FUND (141.371-141.375)/§ 141.374
Michigan Statutes

§ 141.374 — Local improvement revolving fund; repayment of advances.

Michigan § 141.374
JurisdictionMichigan
Ch. 141MUNICIPAL FINANCING
Act 57 of 1957LOCAL IMPROVEMENT REVOLVING FUND (141.371-141.375)

This text of Michigan § 141.374 (Local improvement revolving fund; repayment of advances.) 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 § 141.374 (2026).

Text

LOCAL IMPROVEMENT REVOLVING FUND (EXCERPT) Act 57 of 1957 141.374 Local improvement revolving fund; repayment of advances. Sec.

4.A local improvement revolving fund established pursuant to the provisions of this act shall be a separate depository account of the city or village. Any local improvement revolving fund shall be used only for the purpose of advancing the costs, either in whole or in part, of any local improvement. Moneys advanced from the fund shall be repaid from the sale of special assessment bonds as authorized by law or charter or collections of special assessments on property specially benefited by any local improvement, the cost of which was advanced in whole or in part from the fund.

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Legislative History

1957, Act 57, Eff. Sept. 27, 1957

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 § 141.374, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/141/141.374.