PocketLaw | Michigan Compiled Laws | 243 of 1980 - Emergency Municipal

243 of 1980 - Emergency Municipal Loan Act (141.931 - 141.942)

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Section
141.931

Definitions.

Section
141.932

Local Emergency Financial Assistance Loan Board; Creation; Membership; Powers and Duties; Approval of Actions; Conducting Business at Public Meeting; Staff Services; Powers of Municipality.

Section
141.933

Maximum Amount of Loans in Fiscal Year; Limitations; Conditions; Maintaining Loan Proceeds in Separate Account; Monitoring Expenditures; Loan Proceeds Subject to MCL 45.621 to 45.631; Revenue for Loans; Restructuring Payments; “County Juvenile Agency” Defined.

Section
141.933a

Proceeds of a Loan; Special Assessment.

Section
141.934

Application for Loan by Municipality; Resolution; Certification of Information and Conditions; Inspection, Copying, or Auditing of Books and Records; Applicability of Subsection (1).

Section
141.935

Repealed. 2016, Act 197, Imd. Eff. June 21, 2016.

Section
141.936

Annual Rate or Rates of Interest; Fixed Rate; Rate Calculated Upon Formula; Limitation; Payment of Interest and Principal; Delinquency; Repayment at Earlier Date or in Fewer Installments; Prohibited Conditions; Effect of Failure to Make Repayments; Loan as General Obligation of Municipality; Exception.

Section
141.936a

State Treasurer Selling or Transferring Loan; Security; Interest Rate; Terms; Notice.

Section
141.937

Duties of Municipality Receiving Loan; Failure to Comply With Subsection (1) and 5-Year Plan; Definitions; Exception.

Section
141.938

Repealed. 2016, Act 197, Imd. Eff. June 21, 2016.

Section
141.939

Annual Report; Evaluation of Loan Program; Recommendations.

Section
141.940

Repealed. 1980, Act 324, Imd. Eff. Dec. 15, 1980.

Section
141.941

Short Title.

Section
141.942

Conditional Effective Date.