Sec. 2.
If any city issuing bonds hereunder shall then have outstanding other water revenue bonds which constitute a prior lien on the revenues of the city's water system, bonds may be issued hereunder in such manner as to be subordinate to the outstanding bonds.
History: 1945, Act 130, Imd. Eff. Apr. 27, 1945 ;-- CL 1948, 123.152
Structure Michigan Compiled Laws
Chapter 123 - Local Government
Act 130 of 1945 - Water Supply; Joint Source (123.151 - 123.155)
Section 123.151 - Water Supply; Joint Source; Bonds; Agreements; Expense.
Section 123.152 - Joint Source; Cities Having Outstanding Water Revenue Bonds.
Section 123.153 - Joint Source Cities; Acquisition of Property; Construction Contracts.
Section 123.154 - Sale or Delivery Outside of Corporate Limits.