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2017 Michigan Compiled Laws
Chapter 324 - Natural Resources and Environmental Protection
Act 396 of 2002 GREAT LAKES WATER QUALITY BOND AUTHORIZATION ACT (324.95201 - 324.95208)
Section 324.95204 Disposition of bond proceeds.
Universal Citation: MI Comp L § 324.95204 (2017)
324.95204 Disposition of bond proceeds.
Sec. 4.
The proceeds of the sale of any series of the bonds, any premium and accrued interest received on the delivery of the bonds, and any interest earned on the proceeds of the bonds shall be deposited in the state treasury and credited to a restricted fund as provided by law and shall be disbursed from that fund only for the purposes for which the bonds have been authorized, including the expense of issuing the bonds. The proceeds of sale of any series of the bonds, any premium and accrued interest received on the delivery of the bonds, and any interest earned on the proceeds of the bonds shall be expended for the purposes set forth in this act in a manner as provided by law.
History: 2002, Act 396, Imd. Eff. May 30, 2002
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