There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Mich. Comp. Laws § 35.1004 Powers of administrative board and legislature.
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Act 106 of 1974 35.1004 Powers of administrative board and legislature. Sec. 4. The state administrative board shall provide by resolution, from time to time, for the issuance and sale of serial notes or serial bonds at the lowest possible cost and the legislature is authorized to provide for the amounts and method of and eligibility for payment of the sums herein directed.
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