HOUSE BILL No. 5170
September 30, 1997, Introduced by Reps. Brater, Brackenridge and Dobronski and referred to the Committee on Local Government. A bill to amend 1963 PA 62, entitled "Industrial development revenue bond act," (MCL 125.1251 to 125.1267) by amending the title and by adding section 12a. THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1 TITLE 2 An act relating to industrial development; to authorize 3 municipalities to acquire and dispose of industrial buildings and 4 sites and industrial machinery and equipment, including water and 5 air pollution control equipment, solid waste disposal facilities, 6 and tourist and resort facilities and to lease the same to per- 7 sons, firms, or corporations; to authorize municipalities to 8 acquire and dispose of water and air pollution control equipment 9 and solid waste disposal facilities and to lease or sell the same 10 to persons, firms, corporations, or public utilities; to provide 02378'97 tt KKR 2 1 for the financing of such buildings, sites, machinery, and 2 equipment or water and air pollution control equipment and solid 3 waste disposal facilities by the issuance of revenue bonds and 4 refunding bonds; to provide the terms and conditions of such 5 bonds; and to prescribe the powers and duties of the municipal 6 finance commission; AND TO PRESCRIBE PENALTIES AND PROVIDE 7 REMEDIES. 8 SEC. 12A. A PETITION UNDER SECTION 12, INCLUDING THE CIRCU- 9 LATION AND SIGNING OF THE PETITION, IS SUBJECT TO SECTION 488 OF 10 THE MICHIGAN ELECTION LAW, 1954 PA 116, MCL 168.488. A PERSON 11 WHO VIOLATES A PROVISION OF THE MICHIGAN ELECTION LAW, 1954 PA 12 116, MCL 168.1 TO 168.992, APPLICABLE TO A PETITION DESCRIBED IN 13 THIS SECTION IS SUBJECT TO THE PENALTIES PRESCRIBED FOR THAT VIO- 14 LATION IN THE MICHIGAN ELECTION LAW, 1954 PA 116, MCL 168.1 TO 15 168.992. 16 Enacting section 1. This amendatory act does not take 17 effect unless Senate Bill No. _____ or House Bill No. _____ 18 (request no. 02378'97) of the 89th Legislature is enacted into 19 law. 02378'97 tt Final page. KKR