Michigan § 123.1359 - Bonds or other obligations; issuance.
Full text of Michigan Michigan Compiled Laws § 123.1359 — Bonds or other obligations; issuance., with citation guidance and answers to common questions.
§ 123.1359. Bonds or other obligations; issuance.
(1) A local unit of government may issue bonds or other obligations in anticipation of the distribution of local community stabilization share revenue under section 17(4)(a)(
(2) Bonds or other obligations issued under this section are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
(3) If authorized by a majority vote of the qualified electors of the local unit of government, the local unit of government may, at the time of issuance, pledge the full faith and credit of the local unit of government for the payment of bonds or other obligations issued under this section.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 123.1359
What does Michigan Compiled Laws § 123.1359 cover?
Section 123.1359 ("Bonds or other obligations; issuance.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 123.1359?
A common citation format is "Michigan Compiled Laws § 123.1359" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 123.1359 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.