Michigan Compiled Laws § 332.158a Board Of Trustees; Authority To Borrow; Amount; Issuance Of Bonds Or Notes; Repayment.

332.158a Board of trustees; authority to borrow; amount; issuance of bonds or notes; repayment.

Sec. 8a.

The board of trustees may borrow, if the need is certified by the director of public health and is approved by the county board of commissioners, a sum equal to the total amount due the county or hospital from the state, any other governmental unit, or any other source, and may issue bonds or notes or other evidence of indebtedness for that amount to be repaid from the receipts from the state, other governmental unit or source of the amount due the county or hospital.

History: Add. 1949, Act 141, Imd. Eff. May 23, 1949 ;-- Am. 1966, Act 126, Imd. Eff. June 23, 1966 ;-- Am. 1978, Act 534, Imd. Eff. Dec. 21, 1978

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Last modified: October 10, 2016