2010 Michigan Compiled Laws
Chapter 41 - TOWNSHIPS
Act 107 of 1941 - TOWNSHIP WATER SUPPLY AND SEWAGE DISPOSAL SERVICES AND FACILITIES (41.331 - 41.351z)
Section 41.344 - Contract for issuance and delivery of negotiable revenue bonds; interest, terms, and conditions.
TOWNSHIP WATER SUPPLY AND SEWAGE DISPOSAL SERVICES AND FACILITIES (EXCERPT)Act 107 of 1941
41.344 Contract for issuance and delivery of negotiable revenue bonds; interest, terms, and conditions.
Sec. 14.
A township borrowing pursuant to section 13 may enter into a contract with the corporation described in section 13 for the issuance and delivery to the corporation or its assigns of self-liquidating and fully negotiable revenue bonds for the repayment of the loan with interest on the bonds not exceeding the legal rate, according to terms and conditions consistent with sections 1 to 20a and agreed upon between the township board and the lending corporation.
History: Add. 1951, Act 201, Imd. Eff. June 14, 1951
;--
Am. 1989, Act 83, Imd. Eff. June 20, 1989
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
