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Michigan Legislature
Michigan Compiled Laws Complete Through PA 15 of 2018
House: Adjourned until Tuesday, February 20, 2018 1:30:00 PM
Senate: Adjourned until Tuesday, February 20, 2018 10:00:00 AM

Michigan Legislature

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Section 280.479

THE DRAIN CODE OF 1956 (EXCERPT)
Act 40 of 1956


280.479 Advancements by corporations; reimbursement.

Sec. 479.

Any public or private corporation, firm, or individual may advance money for the payment of any part of the cost of a project under this act, in which event it shall be reimbursed by the drainage district, with or without interest as may be agreed, when funds are available. The obligation of the drainage district to make the reimbursement may be evidenced by a contract or note, which contract or note may pledge the full faith and credit of the drainage district and may be made payable out of the assessments made against public corporations or out of the proceeds of drain orders or bonds issued by the drainage district pursuant to this act or out of any other available funds, but the contract or note is not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.


History: 1956, Act 40, Imd. Eff. Mar. 28, 1956 ;-- Am. 1963, Act 215, Imd. Eff. May 17, 1963 ;-- Am. 2002, Act 406, Imd. Eff. June 3, 2002
Popular Name: Act 40


© 2017 Legislative Council, State of Michigan

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