Michigan Compiled Laws 270-1984-4 Chapter 4 (125.2041...125.2049a)

• Section 125.2041 "Public Work" Defined.
  As used in this chapter, "public work" means the acquisition, construction, or improvement of public works; the acquisition of easements necessary for the public...
• Section 125.2042 Center For Assistance To Local Government; Establishment And Operation.
  The fund shall establish and operate a center for assistance to local government. History: 1984, Act 270, Eff. Mar. 29, 1985 Compiler's Notes: For...
• Section 125.2043 Local Government Assistance Account; Payments Into Account; Transfer Of Money.
  (1) The center for assistance to local government shall be funded by an account, which shall be established and managed by the fund, to...
• Section 125.2044 Utilization Of Money; Purposes.
  Subject to the limitations provided by this chapter, the fund may utilize money held in the local government assistance account for 1 or more...
• Section 125.2045 Loans, Loan Insurance, Or Guarantees; Requirements.
  Loans, loan insurance, or guarantees provided pursuant to section 44 shall be made only for public works which will assist an economic development project,...
• Section 125.2046 Loans, Loan Insurance, Or Guarantees; Limitation; Lawful Public Improvement; Prohibition; Application.
  (1) A loan, loan insurance, or a loan guarantee shall be provided pursuant to section 44 only for public works. (2) A public work...
• Section 125.2047 Borrowing Or Contracting For Loan Insurance And Loan Guarantees; Debt Limitation; Approval; Certain Acts Inapplicable.
  A municipality is hereby authorized to borrow or contract for loan insurance and loan guarantees from the fund pursuant to this act, notwithstanding any...
• Section 125.2048 Loans, Loan Insurance, Or Loan Guarantees; Terms And Conditions.
  Loans, loan insurance, or loan guarantees provided from the local government assistance account may be on such terms and conditions as the fund, in...
• Section 125.2049 Loans, Loan Insurance, Or Loan Guarantees; Conditions.
  A loan, loan insurance, or loan guarantee shall not be provided from the local government assistance account unless it is for a public work...
• Section 125.2049a Paramount Priority.
  The fund shall give paramount priority in providing loans, loan insurance, and loan guarantees from the local government assistance account to municipalities whose past...

Last modified: October 10, 2016