Michigan Compiled Laws, Chapter 141. Municipal Financing § 141.1002

Sec. 2. (1) The state administrative board, referred to in this act as the board, is vested with the following powers and duties relative to this act:

(2) All actions of the board in approving the issuance of bonds or obligations and determining the amount of the issuance shall be approved by a majority of the members of the board. All actions of the board taken pursuant to this act shall be conducted at a public meeting held in compliance with Act No. 267 of the Public Acts of 1976, as amended, being sections 15.261 to 15.275 of the Michigan Compiled Laws.