2002 Senate Bill 1063 ↩

Senate Roll Call 169: Passed

To modify certain bonding authority contained in the Municipal Distributable Aid Bond Act, and place a Jan. 1, 2010 sunset provision in the act. The bonding modifications make the act conform to changes made to the Municipal Finance Act by Senate Bill 29, now Public Act 34 of 2001. That new law made important changes to the procedures, requirements, and restrictions imposed on borrowing and debt issuance by local units of government and governmental authorities. For more information on those changes see the description of Senate Bill 29. This is one of more than 100 House and Senate bills amending different public acts to conform with the new law.