Sec. 2.
The county in which any such money shall have been so deposited shall have the first privilege of borrowing said money, or any part of it, and afterward any person, firm or corporation, in the discretion of the county treasurer, by paying interest at the rate of not less than 3 per cent per annum. The county treasurer may consolidate such funds for investment, with the approval of the finance committee of the board of supervisors.
History: 1903, Act 81, Eff. Sept. 17, 1903 ;-- CL 1915, 2398 ;-- Am. 1925, Act 208, Eff. Aug. 27, 1925 ;-- CL 1929, 1279 ;-- CL 1948, 128.82
Last modified: October 10, 2016