Michigan § 397.287 Bonds as debt of district library; withdrawal of participating municipality from district library.

Michigan Statutes

§ 397.287 — Bonds as debt of district library; withdrawal of participating municipality from district library.

Michigan § 397.287

Ch. 397LIBRARIES

Act 265 of 1988DISTRICT LIBRARY FINANCING ACT (397.281-397.290)

This text of Michigan § 397.287 (Bonds as debt of district library; withdrawal of participating municipality from district library.) 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 § 397.287 (2026).

Text

DISTRICT LIBRARY FINANCING ACT (EXCERPT) Act 265 of 1988 397.287 Bonds as debt of district library; withdrawal of participating municipality from district library. Sec.

7.Bonds issued pursuant to this act are debt of the district library and not of the participating municipalities. If a participating municipality withdraws from a district library, taxes imposed for payment of bonds approved as provided in this act before the adoption of the resolution to withdraw shall continue to be levied within the district as if the municipality did not withdraw from the district library until the principal of and interest on those bonds are paid in full.

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DISTRICT LIBRARY FINANCING ACT (EXCERPT) Act 265 of 1988 397.287 Bonds as debt of district library; withdrawal of participating municipality from district library. Sec. 7. Bonds issued pursuant to this act are debt of the district library and not of the participating municipalities. If a participating municipality withdraws from a district library, taxes imposed for payment of bonds approved as provided in this act before the adoption of the resolution to withdraw shall continue to be levied within the district as if the municipality did not withdraw from the district library until the principal of and interest on those bonds are paid in full.