56 chapters · 227 sections in this title.
Mich. Comp. Laws § 41.343 Township water supply and sewage disposal system; loan from corporation; bonds.
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Sec. 13. A corporation proposing to locate and construct, in a township having no sewage disposal system and a water supply system installed before June 14, 1951 under the terms of sections 1 to 12 that is inadequate for domestic and proposed industrial or commercial requirements…
Mich. Comp. Laws § 41.344 Contract for issuance and delivery of negotiable revenue bonds; interest, terms, and conditions.
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Sec. 14. A township borrowing pursuant to section 13 may enter into a contract with the corporation described in section 13 for the issuance and delivery to the corporation or its assigns of self-liquidating and fully negotiable revenue bonds for the repayment of the loan with in…
Mich. Comp. Laws § 41.345 Exercise of power by ordinance; incorporation and publication of contract as part of ordinance.
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Sec. 15. The power conferred on a township by sections 13 and 14 shall be exercised by means of an ordinance adopted by the township board according to the procedure set forth in Act No. 191 of the Public Acts of 1939, being sections 41.191 to 41.192 of the Michigan Compiled Laws…
Mich. Comp. Laws § 41.346 Statutory lien upon net revenues; net revenues as trust funds.
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Sec. 16. There shall be created in an ordinance required by section 15 a lien, by this act made a statutory lien, upon the net revenues of the water supply and sewage disposal project authorized by section 13. The authorizing ordinance shall pledge the net revenues to the payment…