2006 Michigan Compiled Laws - Mich. Comp. Laws § 141.935 Maximum amount of loans; eligibility.
Act 243 of 1980 141.935 Maximum amount of loans; eligibility. Sec. 5. Except for a county subject to section 3(2), the board may authorize loans to any 1 municipality in an amount not to exceed $1,000,000.00 in any 1 fiscal year of the municipality. Except for a county subject to section 3(2), a municipality is not eligible to receive loans in more than 5 fiscal years in any 10-year period.
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