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Michigan Compiled Laws Complete Through PA 123 of 2019

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Section 324.5414

Act 451 of 1994

324.5414 Determination to terminate assistance; petition by water supplier; issuance of order by department; cause; repayment of outstanding loan balance not affected; other state or federal laws not relieved; responsibility for settlement costs.

Sec. 5414.

  (1) A water supplier may petition the department to make a determination that assistance to that water supplier should be terminated.
  (2) Upon receipt of a petition under subsection (1), the department may issue an order recommending the authority to take appropriate action to terminate the assistance for a project for cause. The order is effective on the date the project ceases activities.
  (3) Subject to the termination of assistance by the authority and payment of any appropriate termination settlement costs, the department shall issue an order of termination to the authority recommending appropriate action.
  (4) The termination of assistance by the authority does not excuse or otherwise affect the water supplier's requirement for repayment of the outstanding loan balance to the fund. The water supplier shall repay the outstanding loan proceeds according to a schedule established by the authority.
  (5) Termination of assistance under this section does not relieve the water supplier of any requirements that may exist under state or federal law to construct the project.
  (6) Any settlement costs incurred in the termination of project assistance are the responsibility of the water supplier.

History: Add. 1997, Act 26, Imd. Eff. June 17, 1997
Popular Name: Act 451
Popular Name: NREPA

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