Michigan Compiled Laws 451-1994-ii-6-195 Part 195 Environmental Protection Bond Implementation (324.19501...324.19513)

• Section 324.19501 Definitions.
  As used in this part: (a) “Bonds” means the bonds issued under part 193 or former Act No. 326 of the Public Acts of...
• Section 324.19502 Legislative Finding And Declaration.
  The legislature finds and declares that the environmental protection programs implemented under former Act No. 328 of the Public Acts of 1988 or this...
• Section 324.19503 Bonds; Requirements Generally.
  (1) The bonds issued under former Act No. 326 of the Public Acts of 1988 or part 193 shall be issued in 1 or...
• Section 324.19504 Bonds Negotiable; Tax Exemption.
  Bonds issued under former Act No. 326 of the Public Acts of 1988 or part 193 shall be fully negotiable under the uniform commercial...
• Section 324.19505 Bonds As Securities.
  Bonds issued under former Act No. 326 of the Public Acts of 1988 or part 193 are made securities in which banks, savings and...
• Section 324.19506 Environmental Protection Bond Fund; Creation; Composition; Restricted Subaccounts.
  (1) The environmental protection bond fund is created in the state treasury. (2) The fund shall consist of all of the following: (a) The...
• Section 324.19507 Disposition And Allocation Of Bond Proceeds; Investment Of Fund; Allocation And Disposition Of Interest And Earnings; Transfer Of Repayments Of Principal And Interest; Disposition Of Unencumbered Balance.
  (1) The total proceeds of all bonds issued under former Act No. 326 of the Public Acts of 1988 or part 193 shall be...
• Section 324.19508 Use Of Money In Fund Allocated Under Mcl 324.19507; Expenditures; Recovery And Retention Of Funds By Eligible Community; Contents And Submission Of List Of Projects; Appropriations; Prioritizing And Approving Projects; Report; “eligible Community” Defined.
  (1) Except as provided in subsection (3), money in the fund that is allocated under section 19507 shall be used for the following purposes:...
• Section 324.19509 Grant And Loan Programs; Rules; Maximum Participation; Considerations In Making Grant A Loan; Interest; Applicability.
  (1) The department shall promulgate rules necessary to implement grant and loan programs provided in this part. (2) The department shall assure maximum participation...
• Section 324.19510 Application For Grant Or Loan; Form; Contents.
  An application for a grant or a loan authorized under this part shall be made on a form prescribed by the department. The department...
• Section 324.19511 Conditions To Making Grant Or Loan.
  The department shall not make a grant or a loan under section 19508(1)(a) or (b) unless all of the following conditions are met: (a)...
• Section 324.19512 Recipient Of Grant Or Loan; Conditions; Noncompliance; Recovery Of Grant; Withholding Grant Or Loan.
  (1) A recipient of a grant or a loan made under section 19508(1)(a) or (b) shall be subject to all of the following: (a)...
• Section 324.19513 Rules Generally.
  The department shall promulgate rules as are necessary or required to implement this part. History: Add. 1995, Act 60, Imd. Eff. May 24, 1995...

Last modified: October 10, 2016