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Michigan Compiled Laws, Chapter 17. State Administrative Board § 17.454

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 4.(1) The proceeds of any loan under this act shall not be used to pay in advance appropriations to any municipality as defined in section 103 of the revised municipal finance act, 2001 PA 34, MCL 141.2103.

(2) Bonds, notes, and loans issued under this act are not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.

(3) The issuance of bonds and notes under this act is subject to the agency financing reporting act. 1

1 M.C.L.A. § 129.171 et seq.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 17. State Administrative Board § 17.454 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-17-state-administrative-board/mi-comp-laws-17-454/

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