Local government: bonds; certain loans; exempt from definition of municipal security under the revised municipal finance act. Amends sec. 105 of 2001 PA 34 (MCL 141.2105).

Summary

The bill revises Section 105 of the Revised Municipal Finance Act to list several types of agreements and loans that will no longer be treated as municipal securities. It applies to Michigan municipalities, the state infrastructure bank, and borrowers of emergency or agricultural loans. The change clarifies financing rules and could affect how these entities raise and report funds.

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