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Michigan Statutes, Title 397

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Title 397, LIBRARIES

30 chapters · 168 sections in this title.

All chapters in Title 397168 Ch 24-of-1989, THE DISTRICT LIBRARY ESTABLISHMENT ACT30 Ch 89-of-1977, STATE AID TO PUBLIC LIBRARIES ACT26 Ch 164-of-1877, CITY, VILLAGE, AND TOWNSHIP LIBRARIES21 Ch 540-of-1982, LIBRARY OF MICHIGAN ACT15 Ch 59-of-1964, DISTRIBUTION OF PENAL FINES TO PUBLI…10 Ch 265-of-1988, DISTRICT LIBRARY FINANCING ACT9 Ch 165-of-1927, CONSOLIDATION OF TOWNSHIP LIBRARIES8 Ch 250-of-1931, REGIONAL LIBRARIES7 Ch 371-of-1972, LIBRARY NETWORK ACT OF 19716 Ch 455-of-1982, THE LIBRARY PRIVACY ACT6 Ch 5-of-1917, TOWNSHIP AND VILLAGE LIBRARIES5 Ch 127-of-1959, STATE LIBRARY FOR BLIND5 Ch 138-of-1917, COUNTY LIBRARIES5 Ch 26-of-1921 (1st Ex. Sess.), LIBRARY COMMISSIONS5

9 sections·Filtered byTitle 397✕Ch 265-of-1988✕

Mich. Comp. Laws § 397.281 Short title.
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Sec. 1. This act shall be known and may be cited as the "district library financing act".
Mich. Comp. Laws § 397.282 Definitions.
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Sec. 2. As used in this act: (a) "Board" means that term as defined in section 2 of the district library establishment act. (b) "District" means that term as defined in section 2 of the district library establishment act. (c) "District library" means a library established pursuan…
Mich. Comp. Laws § 397.283 Powers of board.
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Sec. 3. A board may do 1 or more of the following: (a) Acquire real or personal property for use for library purposes by purchase, land contract, installment purchase contract, lease with or without option to purchase, or title retaining contract. (b) Borrow money and issue its n…
Mich. Comp. Laws § 397.284 Limitation on borrowing money or issuing bonds or notes; conditions to issuance of general obligation unlimited tax bonds; ballot question.
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Sec. 4. (1) A district library shall not borrow money or issue bonds or notes for a sum that, together with the total outstanding bonded indebtedness of the district library, exceeds 5% of the state equalized valuation of the taxable property within the district. (2) A district l…

Mich. Comp. Laws § 397.285 Issuance of limited tax bonds or notes by resolution.

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Sec. 5. Except as otherwise provided in section 4, a district library may issue limited tax bonds or notes by resolution of the board, without submitting the question to the electors of the district.

Mich. Comp. Laws § 397.287 Bonds as debt of district library; withdrawal of participating municipality from district library.

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Sec. 7. Bonds issued pursuant to this act are debt of the district library and not of the participating municipalities. If a participating municipality withdraws from a district library, taxes imposed for payment of bonds approved as provided in this act before the adoption of th…

Mich. Comp. Laws § 397.288 Authorization and levy of taxes to pay principal of and interest on bonds.

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Sec. 8. If a majority of the qualified electors of a district voting on the question of issuing bonds approves the issuance, or if bonds are otherwise issued pursuant to section 5, the board, by resolution, shall authorize and levy the taxes necessary to pay the principal of and …

Mich. Comp. Laws § 397.289 Bonds subject to revised municipal finance act.

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Sec. 9. Bonds issued pursuant to this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.

Mich. Comp. Laws § 397.290 Submission of proposal to issue bonds; limitation.

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Sec. 10. A board shall not submit a proposal to issue bonds under this act more than 1 time during a calendar year.