HOUSE BILL No. 5151


     September 30, 1997, Introduced by Reps. Dobronski and Brackenridge and referred to the Committee on Local Government.


        A bill to amend 1933 PA 94, entitled

   "The revenue bond act of 1933,"

   (MCL 141.101 to 141.140) by amending the title, as amended by

   1987 PA 263, and by adding section 33b.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1                                  TITLE

 2         An act to authorize public corporations to purchase,

 3    acquire, construct, improve, enlarge, extend, or repair public

 4    improvements within or without their corporate limits, and to

 5    own, operate, and maintain the same; to authorize the condemna-

 6    tion of property for such public improvements; to provide for the

 7    imposition and collection of charges, fees, rentals, or rates for

 8    the services, facilities, and commodities furnished by such

 9    public improvements; to provide for the issuance of bonds and

10    refunding bonds payable from the revenues of public improvements;


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 1    to provide for a pledge by public corporations of their full

 2    faith and credit and the levy of taxes without limitation as to

 3    rate or amount to the extent necessary for the payment of the

 4    bonds, or for advancing money from general funds for payment of

 5    bonds; to provide for payment, retirement, and security of such

 6    bonds; to provide for the imposition of special assessment bonds

 7    for the purpose of refunding outstanding revenue bonds; to pre-

 8    scribe the powers and duties of the department of treasury and of

 9    the municipal finance commission or its successor agency relative

10    to such bonds and relative to private activity bonds issued by a

11    state or local governmental entity;  and  to provide for other

12    matters in respect to such public improvements and bonds and to

13    validate action taken and bonds issued; AND TO PRESCRIBE PENAL-

14    TIES AND PROVIDE REMEDIES.

15         SEC. 33B.  A PETITION UNDER SECTION 33, INCLUDING THE CIRCU-

16    LATION AND SIGNING OF THE PETITION, IS SUBJECT TO SECTION 488 OF

17    THE MICHIGAN ELECTION LAW, 1954 PA 116, MCL 168.488.  A PERSON

18    WHO VIOLATES A PROVISION OF THE MICHIGAN ELECTION LAW, 1954 PA

19    116, MCL 168.1 TO 168.992, APPLICABLE TO A PETITION DESCRIBED IN

20    THIS SECTION IS SUBJECT TO THE PENALTIES PRESCRIBED FOR THAT VIO-

21    LATION IN THE MICHIGAN ELECTION LAW, 1954 PA 116, MCL 168.1 TO

22    168.992.

23         Enacting section 1.  This amendatory act does not take

24    effect unless Senate Bill No. _____ or House Bill No. _____

25    (request no. 02378'97) of the 89th Legislature is enacted into

26    law.





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