2006 Michigan Compiled Laws - Act 11 of 1956 (Ex. Sess.)


Act 11 of 1956 (Ex. Sess.)

AN ACT validating proceedings by any city or village, whether under home rule or general charter, owning and operating its electric plant and system by which additional equipment for its electric plant and system was acquired by means of conditional sales or title retention or other purchase contract; validating any certificates, warrants or other documents authorized and issued by any such city or village as evidence of the obligation to pay or the right to receive the purchase price or any part or installment thereof pursuant to such contract, and payable from the revenues of such electric plant or system; and making such certificates, warrants or other separate evidences of the obligation to pay such purchase price negotiable instruments.

History: 1956, Ex. Sess., Act 11, Imd. Eff. Oct. 2, 1956

The People of the State of Michigan enact:

Section 141.311Municipal electric plant; purchase of equipment on conditional sales contract, validation; negotiability of revenue obligations.
Section 141.312Definitions.

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