Drainage Districts; Consolidation; Indebtedness, Retirement; Special Assessment - Mich. Comp. Laws Section 280.444
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Michigan Laws > Drain Code Of 1956 > Drainage Districts; Consolidation; Indebtedness, Retirement; Special Assessment - Mich. Comp. Laws Section 280.444
280.444 Drainage districts; consolidation; indebtedness, retirement; special assessment.
Sec. 444.
In case any drainage district which is included and merged in the consolidated district has any outstanding bonded or other indebtedness, any funds in the treasury of such debtor district shall be used to retire such indebtedness. If said funds are insufficient, the indebtedness shall be paid from any funds derived from any special assessments theretofore levied or extended against the lands in the debtor district, and if further funds are necessary the drain commissioner or drainage board of the consolidated district shall levy a special assessment against the lands in the debtor district sufficient to pay such indebtedness. The proceeds of such special assessment shall be used only for the purpose of paying such indebtedness, bonded or otherwise, and the interest thereon.
History: 1956, Act 40, Imd. Eff. Mar. 28, 1956
Popular Name: Act 40
Section: 280.433 280.434 280.435 280.441 280.441a 280.442 280.443 280.444 280.445 280.446 280.447 280.448 280.461 280.462 280.463
Last modified: March 17, 2013
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