MCL - Index of Act 34 of 2001
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| Act 34 of 2001 | REVISED MUNICIPAL FINANCE ACT (141.2101 - 141.2821) |
| 34-2001-I | PART I DEFINITIONS (141.2101...141.2105) |
| Section 141.2101 | Short title. |
| Section 141.2103 | Definitions. |
| Section 141.2105 | Municipal security; limitations. |
| 34-2001-II | PART II POWERS (141.2201...141.2203) |
| Section 141.2201 | Powers and duties of department. |
| Section 141.2203 | Appeal of department determination. |
| 34-2001-III | PART III GENERAL (141.2301...141.2323) |
| Section 141.2301 | Issuance of municipal security. |
| Section 141.2303 | Annual audit report and qualifying statement; filing by municipality; compliance requirements; determination; correction of noncompliant requirements; reconsideration; order granting exception from prior approval. |
| Section 141.2304 | Issuance of municipal security; provisions applicable to contracting municipalities. |
| Section 141.2305 | Issuance of municipal security; interest rate; sale at discount; rating; maturity; principal as interest. |
| Section 141.2307 | Proposed bulletin; public comment period. |
| Section 141.2308 | Limited tax full faith and credit pledge; notice. |
| Section 141.2309 | Sale of municipal security at competitive or negotiated sale; requirements. |
| Section 141.2311 | Municipal security; registration; facsimile signatures; transfer of ownership; delivery; validity of signature of former officer. |
| Section 141.2313 | Mutilated security; substitution. |
| Section 141.2315 | Issuance of municipal security; determination; payment on demand; contrary ordinance or charter provision. |
| Section 141.2317 | Interest rate exchange or swap, hedge, or similar agreement; definitions. |
| Section 141.2319 | Document to be filed by municipality; failure to comply with subsection (1) or (2). |
| Section 141.2321 | Filing in electronic format. |
| Section 141.2323 | Municipal security issued without department approval; rating. |
| 34-2001-IV | PART IV SHORT-TERM MUNICIPAL SECURITIES (141.2401...141.2415) |
| Section 141.2401 | Short-term municipal securities; issuance; conditions; public airport authority. |
| Section 141.2403 | Resolution authorizing municipal security; tax levy provision; operating expenditures; limitation; set aside of taxes collected; tax installments; capital improvements; debt service charges. |
| Section 141.2405 | Issuance of short-term municipal securities; payments allowed; operating expenditures or debt service charges; limitation; authorizing resolution; set aside of taxes collected; capital improvements; deduction of outstanding principal amount. |
| Section 141.2407 | Anticipation of revenue sharing payments; issuance of short-term municipal securities; payment of operating expenditures; authorizing resolution; set aside of amounts for payment of principal and interest. |
| Section 141.2409 | Interest rate; limitation; payment. |
| Section 141.2411 | Money deposited in special fund; use. |
| Section 141.2413 | Anticipation of long-term municipal security proceeds; issuance of short-term municipal security; authorization of principal, interest, and redemption premiums; limitation on principal amount; use of proceeds. |
| Section 141.2415 | Anticipation of state or federal grants; issuance of short-term municipal security; pledge of grant proceeds as payment of principal, interest, and redemption premiums; limitation on principal amount; use of municipal security proceeds. |
| 34-2001-V | PART V LONG-TERM MUNICIPAL SECURITIES (141.2501...141.2518) |
| Section 141.2501 | Maturity time periods. |
| Section 141.2503 | Municipal securities of a single issue; maturity or redemption date; purchase at open market; redemption requirements; municipal securities of school district; municipal security issued by county, city, village, or township pursuant to MCL 141.2518. |
| Section 141.2505 | Municipal securities secured by special assessments. |
| Section 141.2507 | Interest rate charge on special assessments. |
| Section 141.2509 | Reserve fund; establishment. |
| Section 141.2511 | Issuance of municipal securities to fund county drain special assessment. |
| Section 141.2513 | Debt incurred; issuance of municipal securities secured by limited tax full faith and credit pledge. |
| Section 141.2515 | Water supply or sewage disposal, public building, or other public improvement; delivery of municipal security to defray cost. |
| Section 141.2517 | Capital improvement items; issuance of municipal security to pay cost; notice of intent; petition; referendum; special election; limitation on amount. |
| Section 141.2518 | Payment of unfunded pension liability or unfunded accrued health care liability; issuance of municipal security; comprehensive financial plan; requirements. |
| 34-2001-VI | PART VI REFUNDING (141.2601...141.2613) |
| Section 141.2601 | Issuance of refunding securities. |
| Section 141.2603 | Assumption of outstanding security by another municipality; refunding. |
| Section 141.2605 | Debt as additional to statutory or charter limitation of tax rate or outstanding debt limit. |
| Section 141.2607 | Application of refunding security proceeds and available money. |
| Section 141.2609 | Conditions for securing certain outstanding municipal securities. |
| Section 141.2611 | Refund of outstanding securities by issuance of refunding security; prohibition; exception; procedures; reasonable basis. |
| Section 141.2613 | Refunding securities; effect of 141.2503. |
| 34-2001-VII | PART VII TAX LEVIES, DEBT RETIREMENT, AND SINKING FUND (141.2701...141.2821) |
| Section 141.2701 | Annual tax levy; determination; limitation not applicable; adjustment in event of surplus funds; use of money remaining in debt retirement fund; priority; set aside of tax collections allocable to principal and interest payment; failure of officer to perform duties; “tax levy” defined. |
| Section 141.2705 | Debt retirement funds; accounting; use; pooled or combined for deposit or investment; certification of debt retirement. |
| Section 141.2707 | Sinking fund; use; deposit; accounting. |
| 34-2001-VII-VIII | CHAPTER VIII (141.2801...141.2821) |
| Section 141.2801 | Effective date. |
| Section 141.2802 | Outstanding municipal security; default; powers of department; plan; implementation. |
| Section 141.2803 | Repeal of MCL 131.1 to 132.4, 133.1 to 133.9, 133.12 to 133.15, and 134.1 to 139.3; effective date of repeal of MCL 133.10 to 133.11. |
| Section 141.2805 | Repeal of administrative rules of municipal finance division; effective date. |
| Section 141.2807 | Exceptions from prior approval of debts or securities; effect of orders; applicability of terms. |
| Section 141.2809 | Effect of orders approving issuance of securities. |
| Section 141.2811 | Effect of MCL 141.2303. |
| Section 141.2813 | Effect of MCL 141.2317. |
| Section 141.2815 | Repealed. 2002, Act 541, Imd. Eff. July 26, 2002. |
| Section 141.2817 | Effect of MCL 141.2305. |
| Section 141.2819 | Validation of previously issued securities. |
| Section 141.2821 | Issuance of municipal security beginning March 1, 2002 and ending April 30, 2002; qualified status. |