Bill Text: MI HB4074 | 2009-2010 | 95th Legislature | Engrossed
Bill Title: State financing and management; bonds; bonding authority for prefunded retiree health care; provide for. Amends 2001 PA 34 (MCL 141.2101 - 141.2821) by adding sec. 519. TIE BAR WITH: HB 4075'09, HB 4077'09
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-03-05 - Referred To Committee On Appropriations [HB4074 Detail]
Download: Michigan-2009-HB4074-Engrossed.html
HB-4074, As Passed House, March 4, 2009
HOUSE BILL No. 4074
January 22, 2009, Introduced by Rep. Valentine and referred to the Committee on Judiciary.
A bill to amend 2001 PA 34, entitled
"Revised municipal finance act,"
(MCL 141.2101 to 141.2821) by adding section 519.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 519. Municipal securities issued under section 517 or 518
shall also be secured by the general fund of the county, city,
village, or township and may include the phrase "general obligation
limited tax" in the resolution authorizing the issuance. The
county, city, village, or township issuing the municipal securities
that have not been approved by the electors is not authorized to
levy any tax not authorized by law at the time the municipal
securities are issued to pay for the municipal securities.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 95th Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 4075(request no.
01214'09).
(b) Senate Bill No.____ or House Bill No. 4077(request no.
01216'09).
