HOUSE BILL No. 5710


     February 21, 2002, Introduced by Rep. Patterson and referred to the Committee on House Oversight and Operations.


        A bill to amend 1933 PA 133, entitled

   "An act to authorize the acceptance of bonds and coupons and
   other obligations of municipalities and special assessment dis-
   tricts and bonds and coupons of the Home Owners Loan Corporation
   in payment of certain taxes and special assessments under certain
   conditions, and to prescribe the effect thereof; and to prescribe
   the powers and duties of certain officials and bodies with
   respect thereto,"

   by amending sections 3a, 4, and 6 (MCL 211.403a, 211.404, and

   211.406).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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             Sec. 3a.  The resolution authorizing the receipt of  such

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        THE bonds and coupons and other obligations in payment of taxes

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         and/or  OR special assessments may provide the terms, restric-

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        tions, and conditions upon which the same shall be so receivable

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        and may provide that the same shall be receivable in payment of

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        taxes  and/or  OR special assessments payable to the local




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        tax-collecting official, the county treasurer,  and/or  OR the

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         auditor general  STATE TREASURER.

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             Sec. 4.  The governing body of any municipality or special

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        assessment district passing any such resolution shall file a cer-

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        tified copy  thereof  OF THE RESOLUTION with the  auditor

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        general  STATE TREASURER, with the county treasurer of the county

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        in which  such  THE municipality or special assessment district

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        is located, and with the tax collector of the respective munici-

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        palities and special assessment districts.

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             Sec. 6.  It shall be the duty of the  auditor general  STATE

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        TREASURER, county treasurer, or other tax collecting officer to

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        accept the bonds and coupons and other obligations of any munici-

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        pality or special assessment district in full or partial payment

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        of taxes and special assessments, as the case may be, including

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        penalties, interest, and other charges, when the governing body

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        of any  such  municipality or special assessment district has

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        authorized  such  THE acceptance, in accordance with the provi-

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        sions of this act.  , and the  THE turning over to  such  THE

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        municipality or special assessment district of any such bonds and

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        coupons and other obligations shall be  deemed  CONSIDERED A full

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        accounting for the collection of the tax or special assessment so

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        paid.  The municipality or special assessment district shall

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        cancel  any such  THE bonds and coupons and other obligations and

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        mark THEM "paid in full".  thereon.

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             It shall be the duty of the auditor general, county trea-

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        surer or other tax collecting officer to accept the bonds and

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        coupons issued by the Home Owners Loan Corporation in the



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        refinancing of a mortgage by such corporation in full or partial

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        payment of taxes and special assessments, as the case may be,

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        including penalties, interest and other charges, when the govern-

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        ing body of any such municipality or special assessment district

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        has authorized such acceptance, in accordance with the provisions

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        of this act, and in accounting for the tax or assessment so paid

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        with bonds or coupons of the Home Owners Loan Corporation may

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        deliver to such municipality or special assessment district the

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        bonds and coupons so received.






































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