Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 19 of 2024
House: Adjourned until Tuesday, April 9, 2024 1:30:00 PM
Senate: Adjourned until Tuesday, April 9, 2024 10:00:00 AM


Updated website coming soon!

Michigan Legislature

Main Content

Act 182 of 1971
Search within this Statute for


LOANS TO CITIES OR VILLAGES OWNING PUBLIC UTILITIES

Act 182 of 1971

AN ACT to permit a city or village owning and operating a public utility to borrow money for a term not to exceed 5 years for the purpose of purchasing, acquiring, constructing, improving, enlarging, extending or repairing the facilities of the public utility; to issue notes or other evidences of indebtedness therefor; to repay such borrowing from the revenues of the utility; to permit the pledging or assignment of bonds or other securities or evidences of debt held as investments for said public utility to secure such borrowings; and to provide other powers, rights and duties.


History: 1971, Act 182, Imd. Eff. Dec. 20, 1971 ;-- Am. 1972, Act 130, Imd. Eff. May 8, 1972




The People of the State of Michigan enact:

DocumentTypeDescription
Section 460.461SectionLoans to cities or villages owning and operating public utilities; evidences of indebtedness; term of loan; security; indebtedness subject to revenue bond act.
Section 460.462SectionHome rule city act inapplicable.
Section 460.463SectionForfeiture of security to pledgee or assignee.
up icon