Mich. Comp. Laws § 41.281
This is the official text of Mich. Comp. Laws § 41.281, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Creation of indebtedness; approval by township board; limitation on issue of township bonds.
Official statutory text
Sec. 11.
In the creation of any indebtedness hereunder, it shall not be necessary to have the approval of the board of supervisors thereon, but no indebtedness against the township at large shall be incurred without the approval of the township board of each township in which any part of the assessment district is situated. No bonds shall be issued on behalf of any township which would cause the total bonded debt of the township to exceed 5 per cent of its assessed valuation.
History: 1931, Act 246, Eff. Sept. 18, 1931; CL 1948, 41.281
In the creation of any indebtedness hereunder, it shall not be necessary to have the approval of the board of supervisors thereon, but no indebtedness against the township at large shall be incurred without the approval of the township board of each township in which any part of the assessment district is situated. No bonds shall be issued on behalf of any township which would cause the total bonded debt of the township to exceed 5 per cent of its assessed valuation.
History: 1931, Act 246, Eff. Sept. 18, 1931; CL 1948, 41.281
Status: in_force · Read it on the official government site
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