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Michigan Compiled Laws Complete Through PA 281 of 2014
House: Adjourned until Wednesday, September 17, 2014 1:30:00 PM
Senate: Adjourned until Wednesday, September 17, 2014 10:00:00 AM

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Section 141.935

EMERGENCY MUNICIPAL LOAN ACT (EXCERPT)
Act 243 of 1980


141.935 Maximum amount of loans; eligibility.

Sec. 5.

Except for a county subject to section 3(2), until September 30, 2011, the board may authorize loans to any 1 municipality in an amount not to exceed $3,000,000.00 in any 1 fiscal year of the municipality. Except for a county subject to section 3(2), a municipality is not eligible to receive loans in more than 5 fiscal years in any 10-year period.


History: 1980, Act 243, Imd. Eff. July 24, 1980 ;-- Am. 1980, Act 324, Imd. Eff. Dec. 15, 1980 ;-- Am. 1987, Act 282, Eff. Apr. 11, 1988 ;-- Am. 2007, Act 198, Imd. Eff. Dec. 21, 2007 ;-- Am. 2012, Act 284, Imd. Eff. Aug. 1, 2012


© 2009 Legislative Council, State of Michigan