There is a newer version of the Michigan Compiled Laws
2015 Michigan Compiled Laws
Chapter 120 - Port Districts
Act 639 of 1978 HERTEL-LAW-T. STOPCZYNSKI PORT AUTHORITY ACT (120.101 - 120.130)
Section 120.125 Surplus of unencumbered funds; disposition.
MI Comp L § 120.125 (2015) What's This?
120.125 Surplus of unencumbered funds; disposition.
Sec. 25.
If at the end of a fiscal year a surplus of unencumbered funds remains after providing for the operating expenses of an authority, the authority may pay that surplus into the general funds of the state and of its constituent units in the same proportion which the appropriations made by each to the authority bear to each other.
History: 1978, Act 639, Imd. Eff. Jan. 11, 1979
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