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MI SB0772
Bill
AI Summary
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Amends the Michigan Municipal Bond Authority Act to expand the board's powers regarding legal counsel by requiring rotation of bond counsel services to increase the pool of nationally recognized firms.
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Authorizes the board to investigate and assess state infrastructure needs, current financing methods, and available resources to improve infrastructure and lower improvement costs.
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Grants the board authority to investigate and assess short-term and long-term borrowing requirements for operating expenses, capital improvements, and delinquent taxes.
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Effective date is March 28, 2013, contingent on enactment of Senate Bills 770 and 771 in the 96th Legislature.
Legislative Description
State financing and management; bonds; provision relating to purchase of qualified bonds of school district; modify. Amends sec. 7 of 1985 PA 227 (MCL 141.1057). TIE BAR WITH: SB 0770'11, SB 0771'11
State financing and management, bonds
Last Action
Assigned Pa 0439'12
12/31/2012