2006 Michigan Compiled Laws - Mich. Comp. Laws § 141.1003 Cities or counties authorized to borrow money and issue general obligation bonds or obligations to fund operating deficit.
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Act 80 of 1981 141.1003 Cities or counties authorized to borrow money and issue general obligation bonds or obligations to fund operating deficit. Sec. 3. A city or county that meets the applicable conditions described in section 4 may borrow money and issue its general obligation bonds or obligations either for funding an operating deficit for a past fiscal year or years or for funding a projected operating deficit in the current fiscal year, or for funding both. The authority granted by this act is in addition to any power granted to a city or county by its charter or any other provision of law.
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