Bonds; Disposition and Disbursement of Proceeds; Deposit of Premium and Accrued Interest - Mich. Comp. Laws Section 35.1036
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Michigan Laws > Veterans And Members Of Armed Forces > Bonds; Disposition and Disbursement of Proceeds; Deposit of Premium and Accrued Interest - Mich. Comp. Laws Section 35.1036
35.1036 Bonds; disposition and disbursement of proceeds; deposit of premium and accrued interest.
Sec. 16.
The proceeds of sale of the bonds or any series thereof shall be deposited in the state treasury in a separate account and shall be disbursed therefrom only for the purposes for which the bonds have been authorized and the expense of issuing said bonds. Any premium and accrued interest received on the delivery of the bonds shall be deposited in the general fund. Proceeds of sale of the bonds or any series thereof shall be expended for the purposes set forth in this act in the manner as provided by law.
History: 1974, Act 370, Imd. Eff. Dec. 23, 1974
Section: 35.1029 35.1030 35.1031 35.1032 35.1033 35.1034 35.1035 35.1036 35.1037 35.1038 35.1051 35.1052 35.1053 35.1054 35.1055
Last modified: March 17, 2013
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