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Michigan Compiled Laws Complete Through PA 47 of 2019
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Senate: Adjourned until Tuesday, July 23, 2019 10:00:00 AM


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Act 265 of 1988
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DISTRICT LIBRARY FINANCING ACT

Act 265 of 1988

AN ACT to authorize district libraries to acquire, construct, or furnish real or personal property for use for library purposes; to authorize district libraries to borrow money and issue bonds and notes and refunding bonds and notes for those acquisitions; and to authorize district libraries to levy a tax for, and to pledge their full faith and credit to, the payment of contracts, bonds, and notes.


History: 1988, Act 265, Imd. Eff. July 15, 1988


© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 397.281SectionShort title.
Section 397.282SectionDefinitions.
Section 397.283SectionPowers of board.
Section 397.284SectionLimitation on borrowing money or issuing bonds or notes; conditions to issuance of general obligation unlimited tax bonds; ballot question.
Section 397.285SectionIssuance of limited tax bonds or notes by resolution.
Section 397.286SectionRepealed. 1989, Act 25, Imd. Eff. May 22, 1989.
Section 397.287SectionBonds as debt of district library; withdrawal of participating municipality from district library.
Section 397.288SectionAuthorization and levy of taxes to pay principal of and interest on bonds.
Section 397.289SectionBonds subject to revised municipal finance act.
Section 397.290SectionSubmission of proposal to issue bonds; limitation.
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