Section 280.277 - Drainage district bonds; delinquent assessments, advancements by municipalities, reimbursement, reassessment, validation of drain orders or bonds. - Michigan Statutes

THE DRAIN CODE OF 1956 (EXCERPT)
Act 40 of 1956

280.277 Drainage district bonds; delinquent assessments, advancements by municipalities, reimbursement, reassessment, validation of drain orders or bonds.

Sec. 277.

Whenever lands in any city, village or township or combination thereof shall be assessed for all or any part of the cost of a drain, the governing body of each such cities, villages or townships by resolution adopted prior to the issuance of drain orders and/or bonds in anticipation of the payment of the assessments for such drain may agree that in the event of any delinquency in the collection of the assessments against lands in such cities, villages or townships, the cities, villages or townships shall advance the amount of such delinquency from unobligated funds in the general fund to the extent necessary to pay principal and interest on such drain orders and/or bonds as the same mature. In the event that moneys are so advanced, then the cities, villages or townships shall be reimbursed from the collection of the said delinquent assessments against lands within its boundaries. If the collections from special assessments shall not be sufficient to reimburse the cities, villages or townships, the drain commissioner of such county shall, within a 5-year period from the date of advancement, reassess the drainage district as in the first instance in order to provide for the repayment of the sums so advanced: Provided, That this act shall not validate any drain orders or bonds issued prior to the effective date of this act.

History: 1956, Act 40, Imd. Eff. Mar. 28, 1956
Popular Name: Act 40