§ 12.111 Short title
§ 12.112 Definitions
§ 12.113 Unified volume limitation and allotment thereof; determination; publication
§ 12.114 Allotments to state and municipal issuers for allocation; reallotment; division of allotment into installments; increase in monthly installments; reserving portion of monthly allotment; pro rata reduc
§ 12.115 Request for allocation; attachment; notice of sale; certification of preliminary proceedings
§ 12.116 Requests for allocations; order of consideration; approval or denial; reason for denial; steps to maintain orderly application and allocation process; instances in which request may be denied; when re
§ 12.117 Allocation order; requirements; reversion; allocation not transferable between issuers; use of allocation; validity of order; request for extension
§ 12.118 Invalidation of request or allocation; notice of changed information; new request for allocation; issuance of bonds before receiving allocation or approval for amendment to allocation; cancellation of
§ 12.119 Notice of delivery of issue of bonds; filing; contents; failure to file; revocation and invalidation of allocation; waiver of revocation
§ 12.120 Order for carryforward allocation; request for carryforward allocation; form; amount; priorities; election
§ 12.121 Records
§ 12.122 State or municipal issuer not authorized to issue bonds
§ 12.123 Allocations to which act applicable; ratification of allocation; revocation of allocation; formula for allocating state ceiling
§ 12.124 Repeal of MCL 125.1432c

Terms Used In Michigan Laws > Chapter 12 > Act 496 of 1988 - Unified Volume Limitation Allocation Act

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Advisory council: means the Michigan trails advisory council created in section 72110. See Michigan Laws 324.72101
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Board: means the Michigan veterans' trust fund board of trustees created in subsection (1). See Michigan Laws 35.603b
  • Board: means a river management board created as the governing body of a river management district in accordance with this part. See Michigan Laws 324.31101
  • 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
  • city: whenever used in this act , shall be construed to mean a city incorporated under this act, or made subject to its provisions. See Michigan Laws 113.10
  • Commission: means the commission of natural resources. See Michigan Laws 324.301
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Council: means a trail management council established pursuant to section 72106. See Michigan Laws 324.72101
  • Council: means a watershed council created under this part. See Michigan Laws 324.31101
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the department of natural resources. See Michigan Laws 324.72101
  • Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
  • Department of natural resources: means the principal state department created in section 501. See Michigan Laws 324.301
  • Dependent: A person dependent for support upon another.
  • Director: means the director of the department or his or her designee. See Michigan Laws 324.72101
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • District: means a river management district established under this part. See Michigan Laws 324.31101
  • Docket: A log containing brief entries of court proceedings.
  • Election: means an election or primary election at which the electors of this state or of a subdivision of this state choose or nominate by ballot an individual for public office or decide a ballot question lawfully submitted to them. See Michigan Laws 168.2
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Farm product: means that term as defined in section 2 of the Michigan right to farm act, 1981 PA 93, MCL 286. See Michigan Laws 324.73101
  • Farm property: means land used in the production of a farm product and all lands contained within the farm. See Michigan Laws 324.73101
  • Fiduciary: A trustee, executor, or administrator.
  • firearm: except as otherwise specifically defined in statute, includes any weapon which will, is designed to, or may readily be converted to expel a projectile by action of an explosive. See Michigan Laws 8.3t
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fish: means game fish or nongame fish as those terms are defined in section 48701. See Michigan Laws 324.73101
  • Forest road: means that term as defined in section 81101. See Michigan Laws 324.72101
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Fund: means the Pure Michigan Trails fund created in section 72109. See Michigan Laws 324.72101
  • Game: means that term as defined in section 40103. See Michigan Laws 324.73101
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governmental agency: means the federal government, a county, city, village, or township, or a combination of any of these entities. See Michigan Laws 324.72101
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Hunting dog: means a dog allowed to range freely to engage in or aid in hunting on the day the dog enters the property of another person. See Michigan Laws 324.73101
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Inland lake: means a public inland lake or a private inland lake. See Michigan Laws 324.30901
  • Issuer: means a municipal issuer or a state issuer. See Michigan Laws 12.112
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Juror: A person who is on the jury.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • License: means a hunting, fishing, or fur harvester's license or, in the discretion of the court, any combination of such licenses. See Michigan Laws 324.73101
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Local governing body: means the legislative body of a local unit of government. See Michigan Laws 324.30901
  • local unit: means a municipality or county. See Michigan Laws 324.301
  • military duty: means (1) training and service performed by an inductee, enlistee or reservist or any entrant into a temporary component of the armed forces of the United States, and (2) time spent in reporting for and returning from such training and service, or if a rejection occurs, from the place of reporting therefor: Provided, That the time spent does not exceed the minimum time required by law for the inductee or not exceed 3 years for the first enlistment, or not exceed 3 years for the reservist after being recalled to active duty or as soon after the expiration of such 3 years as the reservist is able to obtain orders relieving him from active duty: And provided further, That if the re-employment provision of the selective service act is amended to provide a period of other than 3 years, such a period provided by the selective service act shall apply. See Michigan Laws 35.351
  • month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipal issuer: means a city, village, township, county, school district, or community college district, or an agency, instrumentality, authority, or district created by 1 or more of the foregoing that is authorized by law to issue bonds. See Michigan Laws 12.112
  • Municipality: means a city, village, or township. See Michigan Laws 324.301
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Pack and saddle trails: means trails and equine access locations that may be used by pack and saddle animals. See Michigan Laws 324.72101
  • period of war: means that phrase as described in 38 C. See Michigan Laws 35.602
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Person: means an individual, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.301
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • position: means employment, whether probationary or otherwise, held by a public employee at the time of entrance into military duty, but shall not include temporary or casual employment or an office filled by election, nor officers appointed for a fixed term. See Michigan Laws 35.351
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preliminary costs: includes costs of the engineering feasibility report, economic study, estimate of total cost, and cost of setting up the assessment district. See Michigan Laws 324.30901
  • Private activity bonds: means bonds, notes, or other evidences of indebtedness issued as private activity bonds as authorized by law and as defined in section 141 of the internal revenue code. See Michigan Laws 12.112
  • Private inland lake: means an inland lake other than a public inland lake. See Michigan Laws 324.30901
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • public employee: means any person holding a position in public employment, both classified and unclassified. See Michigan Laws 35.351
  • public employer: means any government, department or agency mentioned in subsection (b) of this section employing a public employee in a position. See Michigan Laws 35.351
  • public employment: means remunerative employment by the government of this state, or of any county, municipality, or other civil or political subdivision thereof, including any department, agency or instrumentality thereof. See Michigan Laws 35.351
  • Public inland lake: means a lake that is accessible to the public by publicly owned lands or highways contiguous to publicly owned lands or by the bed of a stream, except the Great Lakes and connecting waters. See Michigan Laws 324.30901
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Rail-trail: means a former railroad bed that is in public ownership and used as a trail. See Michigan Laws 324.72101
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Residence: as used in this act , for registration and voting purposes means that place at which a person habitually sleeps, keeps his or her personal effects, and has a regular place of lodging. See Michigan Laws 168.11
  • River management: means the control of river flow by the operation of dams, reservoirs, conduits, and other human-made devices in order to improve and expand the uses of the river for those who depend upon it for a variety of private and public benefits. See Michigan Laws 324.31101
  • seal: shall be construed to include any of the following:
  (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n
  • shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c
  • 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
  • State issuer: means the state of Michigan, an agency, authority, or other instrumentality created by the laws of this state, the governing body of which is composed of members elected by the people or appointed in whole or in part by a state officer, or a state college or university listed or described in section 4 of article VIII of the state constitution of 1963, which entity is authorized to issue bonds. See Michigan Laws 12.112
  • Statewide trail network: means the statewide trail network established in section 72114. See Michigan Laws 324.72101
  • Statute: A law passed by a legislature.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trail: means a right-of-way adapted to foot, horseback, motorized, or other nonmotorized travel. See Michigan Laws 324.72101
  • trail: means a right-of-way adapted to foot or horseback travel. See Michigan Laws 324.72301
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • 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
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • 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
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Verdict: The decision of a petit jury or a judge.
  • veteran: means an individual who meets all of the following:
  •   (a) Is a veteran as defined in section 1 of 1965 PA 190, MCL 35. See Michigan Laws 35.441
  • veteran: means an individual who meets all of the following:
  •   (a) Is a veteran as defined in section 1 of 1965 PA 190, MCL 35. See Michigan Laws 35.602
  • Watershed: means the drainage area of a stream. See Michigan Laws 324.31101
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.