2012 Michigan Compiled Laws
Chapter 141 — MUNICIPAL FINANCING
Act 14 of 1926 (Ex. Sess.) — SINKING FUND FOR PUBLIC BUILDINGS (141.51 - 141.55)
Section 141.51 — Creation of sinking fund for public buildings and sites; tax referendum.
SINKING FUND FOR PUBLIC BUILDINGS (EXCERPT)
Act 14 of 1926 (Ex. Sess.)
141.51 Creation of sinking fund for public buildings and sites; tax referendum.
Sec. 1.
The board of supervisors of any county are hereby authorized to levy a tax of not to exceed 2 mills on the assessed valuation of said county each year for a period of not to exceed 10 years, for the purpose of creating a sinking fund to be used for the purchase of real estate for sites for, and the construction or repair of public buildings; provided the proposition of levying such tax to create such sinking fund shall be submitted to the electors of the county and approved by a majority of those voting thereon in the manner provided in this act.
History: 1926, Ex. Sess., Act 14, Imd. Eff. Mar. 13, 1926 ;-- CL 1929, 1256 ;-- CL 1948, 141.51
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