Michigan Compiled Laws

Mich. Comp. Laws § 141.212 (2026)

Defaulted municipal bonds; call for tenders.

✓ current as of July 2026

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DEFAULTED MUNICIPAL BONDS

Act 204 of 1933

141.212 Defaulted municipal bonds; call for tenders.

Sec. 2.

Whenever any bonds of any special assessment district or improvement district of any county, city, township, village, or school district of the state of Michigan shall have been or have remained in default as to principal or interest for a period of longer than 6 months and there shall not be, or have been within said period of default, sufficient sums of money on hand belonging to said special assessment district or improvement district to pay the principal and interest of said bonds so in default, the governing body of such municipality may by resolution call for tenders of such defaulted bonds and advertise such call for tenders of bonds at least once, in a newspaper having general circulation in such municipality. Such advertisement shall be published at least 10 days prior to the time for presentation of such tenders of bonds.

History: 1933, Act 204, Imd. Eff. June 28, 1933 ;-- CL 1948, 141.212

Notes of Decisions

Cited in 1 case, 1972–1972 · leading case: Alan v. Wayne Cnty., 200 N.W.2d 628 (Mich. 1972).

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Alan v. Wayne Cnty., 200 N.W.2d 628 (Mich. 1972). · cites it 2× “Failure to Pre-set Rates & Prohibition of Free Services Under Act 94 Questions raised by Plaintiffs relating to the failure to pre-set rates under Act 94, § 21; MCLA 141.212; MSA 5.2751 and the prohibition of free services under Act 94, § 18; MCLA 141.”

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