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95th Legislature Regular Session  
Michigan Compiled Laws Complete Through PA 139 of 2009  
House: Adjourned until Tuesday, December 01, 2009 1:30:00 PM  
Senate: Adjourned until Tuesday, December 01, 2009 10:00:00 AM  
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451-1994-II-6-195
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NATURAL RESOURCES AND ENVIRONMENTAL PROTECTION ACT (EXCERPT)
Act 451 of 1994
Part 195
ENVIRONMENTAL PROTECTION BOND IMPLEMENTATION

DocumentTypeDescription
Section 324.19501SectionDefinitions.
Section 324.19502SectionLegislative finding and declaration.
Section 324.19503SectionBonds; requirements generally.
Section 324.19504SectionBonds negotiable; tax exemption.
Section 324.19505SectionBonds as securities.
Section 324.19506SectionEnvironmental protection bond fund; creation; composition; restricted subaccounts.
Section 324.19507SectionDisposition 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.
Section 324.19508SectionUse 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.
Section 324.19509SectionGrant and loan programs; rules; maximum participation; considerations in making grant a loan; interest; applicability.
Section 324.19510SectionApplication for grant or loan; form; contents.
Section 324.19511SectionConditions to making grant or loan.
Section 324.19512SectionRecipient of grant or loan; conditions; noncompliance; recovery of grant; withholding grant or loan.
Section 324.19513SectionRules generally.

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