Michigan Compiled Laws § 123.365 Self-liquidating Bonds, Secured By Revenues; Liability.

123.365 Self-liquidating bonds, secured by revenues; liability.

Sec. 5.

For the purpose of defraying the cost of purchasing, acquiring, constructing, improving, installing, extending, enlarging, adjusting and/or repairing a garbage disposal equipment system, any city or village may issue self-liquidating bonds in accordance with the provisions of Act No. 94 of the Public Acts of 1933, as amended, being sections 141.101 to 141.139, inclusive, of the Compiled Laws of 1948. Such bonds shall not impose any liability upon the city or village, but shall be secured only by the revenues from the garbage disposal equipment system.

History: 1951, Act 266, Eff. Sept. 28, 1951

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Last modified: October 10, 2016