There is a newer version of the Michigan Compiled Laws
2015 Michigan Compiled Laws
Chapter 397 - Libraries
Act 265 of 1988 DISTRICT LIBRARY FINANCING ACT (397.281 - 397.290)
AN ACT to authorize district libraries to acquire, construct, or furnish real or personal property for use for library purposes; to authorize district libraries to borrow money and issue bonds and notes and refunding bonds and notes for those acquisitions; and to authorize district libraries to levy a tax for, and to pledge their full faith and credit to, the payment of contracts, bonds, and notes.
History: 1988, Act 265, Imd. Eff. July 15, 1988
- Section 397.281 Short title.
- Section 397.282 Definitions.
- Section 397.283 Powers of board.
- Section 397.284 Limitation on borrowing money or issuing bonds or notes; conditions to issuance of general obligation unlimited tax bonds; ballot question.
- Section 397.285 Issuance of limited tax bonds or notes by resolution.
- Section 397.286 Repealed. 1989, Act 25, Imd. Eff. May 22, 1989.
- Section 397.287 Bonds as debt of district library; withdrawal of participating municipality from district library.
- Section 397.288 Authorization and levy of taxes to pay principal of and interest on bonds.
- Section 397.289 Bonds subject to revised municipal finance act.
- Section 397.290 Submission of proposal to issue bonds; limitation.
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