Michigan Compiled Laws § 123.347 Act Not Deemed Part Of Bondholders' Contract; Proceedings Impairing Contracts Prohibited.

123.347 Act not deemed part of bondholders' contract; proceedings impairing contracts prohibited.

Sec. 17.

This act shall not be deemed to be a part of the bond contract between a public corporation hereafter issuing any revenue bonds and the holders of such bonds, and no proceedings shall be taken hereunder which will impair the contract rights of such bondholders.

History: 1947, Act 235, Eff. Oct. 11, 1947 ;-- CL 1948, 123.347

Section: Previous  123.334  123.335  123.336  123.337  123.338  123.339  123.340  123.341  123.342  123.343  123.344  123.345  123.346  123.347  

Last modified: October 10, 2016