Borrowing Money and Issuing Notes in Anticipation of Undedicated Revenues; Purpose - Mich. Comp. Laws Section 17.451
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Michigan Laws > State Administrative Board > Borrowing Money and Issuing Notes in Anticipation of Undedicated Revenues; Purpose - Mich. Comp. Laws Section 17.451
17.451 Borrowing money and issuing notes in anticipation of undedicated revenues; purpose.
Sec. 1.
The state administrative board is authorized to borrow money and refund that borrowing, in whole or in part, when necessary, from time to time, on the full faith and credit of the state and issue notes, including refunding notes and commercial paper, of the state in anticipation of the receipt of undedicated revenues in the same fiscal year when in its judgment such money is needed to meet obligations incurred pursuant to appropriations in that fiscal year.
History: 1967, Act 266, Imd. Eff. July 19, 1967
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Am. 1982, Act 196, Imd. Eff. June 30, 1982
Section: 17.55 17.56 17.57 17.61 17.74 17.241 17.251 17.401 17.402 17.403 17.451 17.452 17.453 17.454 17.455
Last modified: March 17, 2013
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