Mich. Comp. Laws § 41.344
This is the official text of Mich. Comp. Laws § 41.344, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Contract for issuance and delivery of negotiable revenue bonds; interest, terms, and conditions.
Official statutory text
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
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
Status: in_force · Read it on the official government site
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