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MI HB6214
Bill
Status
9/15/2020
Primary Sponsor
Roger Hauck
Click for details
AI Summary
HB 6214 Summary
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Amends MCL 324.30705 to allow special assessment districts to issue bonds, notes, or lake level orders in anticipation of special assessment collection.
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Sets final maturity date for bonds or notes at no more than 40 years after original issuance (previously notes were limited to 10 years).
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Requires all proceedings for special assessments and issuance of bonds, notes, or lake level orders to conform as nearly as possible to procedures in the Drain Code of 1956.
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Permits county boards by a 2/3 vote to pledge full faith and credit of the county for payment of bonds or notes issued by special assessment districts.
Legislative Description
Natural resources: inland lakes; length of time that bonds may be issued against the proceeds of special assessments for a lake level project; modify. Amends sec. 30705 of 1994 PA 451 (MCL 324.30705).
Natural resources: inland lakes
Last Action
Bill Electronically Reproduced 09/15/2020
9/16/2020