Michigan Laws 12.121 – Records
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(1) The treasurer shall maintain records of the volume of bonds for which the unified volume limitation has been allocated, the amount of the unified volume limitation allocated to state issuers, and the amount allocated to municipal issuers during each calendar year. These records shall be made available to the public during regular business hours.
(2) The treasurer shall maintain a record of each issuer‘s compliance with section 9, certify that information, and make the record available to the public during regular business hours.
Terms Used In Michigan Laws 12.121
- Bonds: means private activity bonds subject to the unified volume limitation and any other bonds, notes, and evidences of indebtedness, including certain lease and installment purchase obligations, that would be treated by the internal revenue service as private activity bonds unless issued with an allocation from the unified volume limitation. See Michigan Laws 12.112
- Issuer: means a municipal issuer or a state issuer. See Michigan Laws 12.112
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Treasurer: means the state treasurer or a deputy or employee of the department of treasury that the state treasurer authorizes to act under this act. See Michigan Laws 12.112
- Unified volume limitation: means the ceiling for this state on the aggregate amount of bonds that may be issued by all issuers in the state as prescribed by section 146 of the internal revenue code for a particular year. See Michigan Laws 12.112