HOUSE BILL No. 5979


     September 27, 2000, Introduced by Rep. Pappageorge and referred to the Committee on Tax Policy.


        A bill to amend 1956 PA 40, entitled

   "The drain code of 1956,"

   (MCL 280.1 to 280.630) by adding section 274a.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 274A.  IF A MUNICIPALITY OR AUTHORITY PLEDGES ANY POR-

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      TION OF THE GENERAL FUND OF THE MUNICIPALITY OR AUTHORITY AND

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      ISSUES ANY BOND OTHER THAN A GENERAL OBLIGATION BOND OR A REVENUE

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      BOND UNDER THIS ACT, THAT MUNICIPALITY OR AUTHORITY SHALL PROVIDE

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      FOR AND PUBLISH A NOTICE OF INTENT AS PROVIDED IN SECTION 10 OF

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      CHAPTER 5 OF THE MUNICIPAL FINANCE ACT, 1943 PA 202, MCL 135.10.












   05792'00          Final page.                            JLB