Michigan Compiled Laws § 141.935 Maximum Amount Of Loans; Eligibility.

141.935 Maximum amount of loans; eligibility.

Sec. 5.

Except for a county subject to section 3(2), until September 30, 2011, the board may authorize loans to any 1 municipality in an amount not to exceed $3,000,000.00 in any 1 fiscal year of the municipality. Except for a county subject to section 3(2), a municipality is not eligible to receive loans in more than 5 fiscal years in any 10-year period.

History: 1980, Act 243, Imd. Eff. July 24, 1980 ;-- Am. 1980, Act 324, Imd. Eff. Dec. 15, 1980 ;-- Am. 1987, Act 282, Eff. Apr. 11, 1988 ;-- Am. 2007, Act 198, Imd. Eff. Dec. 21, 2007 ;-- Am. 2012, Act 284, Imd. Eff. Aug. 1, 2012

Section: Previous  141.931  141.932  141.933  141.933a  141.934  141.935  141.936  141.936a  141.937  141.938  141.939  141.940  141.941  141.942    Next

Last modified: October 10, 2016