Sec. 19606. (1) The clean Michigan initiative bond fund is created in the state treasury. (2) The fund shall consist of all of the following: (a) The proceeds of sales of the bonds and any premium and accrued interest received on the delivery of the bonds. (b) Any interest or earnings generated by the proceeds described in subdivision (a). (c) Any repayment of principal and interest made under a loan program authorized in this part. (d) Any federal or other funds received. (3) The department of treasury may establish restricted subaccounts within the fund as necessary to administer the fund. History: Add. 1998, Act 288, Eff. Dec. 1, 1998 Popular Name: Act 451 Popular Name: NREPA
‹ Prev All Michigan sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.