2006 Michigan Compiled Laws - Act 161 of 1923


Act 161 of 1923

AN ACT to provide for the establishment of county sinking funds and to create a county sinking fund commission; to prescribe the powers and duties thereof; to prescribe penalties and provide remedies; and to repeal all acts and parts of acts contravening the provisions of this act.

History: 1923, Act 161, Eff. Aug. 30, 1923 ;--Am. 1998, Act 163, Eff. Mar. 23, 1999

The People of the State of Michigan enact:

Section 141.31Bond issues; requisite sinking funds.
Section 141.32Sinking fund commissioners.
Section 141.33Sinking fund commissioners; control of fund, application; payment, manner.
Section 141.34Sinking fund commissioners; handling of funds, investment; bonded debt.
Section 141.35Sinking fund commissioners; annual meeting, procedure; rules; authorizing vote; clerk, records.
Section 141.36Sinking fund commissioners; condition reports to board; tax recommendations.
Section 141.37Bond sale; interest, credit; expenses of commissioners.
Section 141.38Suit on securities.
Section 141.39Saving clause; construction of act.
Section 141.40Violation of §§ 168.1 to 168.992 applicable to petitions; penalties.

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