{"data":{"id":"us-mi/mich.-comp.-laws-69.23","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 69.23","heading":"Bonds; approval of electors required; exemption of certain bonds and obligations; expenses.","body":"Sec. 23.\n\nSubject to subsection (2), a village shall not issue bonds unless the issuance is approved by a majority of the electors voting on the bond issuance at a regular or special village election. The election shall be conducted in accordance with the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992.\n\nSubsection (1) does not apply to any of the following:\n\nObligations incurred by the village evidenced by contracts, notes, or assessments.\n\nSpecial assessment bonds.\n\nBonds for the portion of the cost of local improvements to be paid by the village at large not to exceed 40% of the cost of the improvements.\n\nEmergency bonds.\n\nBonds that the council is authorized by specific statute to issue without a vote of the electors.\n\nThe expenses of the election shall be paid by the village as provided in section 642 of the Michigan election law, 1954 PA 116, MCL 168.642.","path":["MI Code","Chapter 61","Act Act-3-of-1895"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-69-23","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"adcd5e6b7a539295ba9d82654fb4abe5b43841842a764adb9838319d691cdbfd","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-69.22","next":"us-mi/mich.-comp.-laws-69.24"},"notice":"GroundRules: Original legal text. Not legal advice."}