Michigan Compiled Laws
Act 235 of 1947 - Joint Water and Sewage Disposal System (123.331 - 123.347)
Section 123.339 - Disposal System; Division Between Public Corporations; Proportionate Share of Expenses or Indebtedness.

Sec. 9.
If any such system shall be divided, each public corporation shall provide for the operation of its portion and for the proper proportion of any expenses common to the entire system or separate systems, including payment of interest and principal of any unrefunded bonds of the original issue and for the payment of those expenses properly chargeable to its separate system including the payment of any bonds assumed or separately issued by it.
History: 1947, Act 235, Eff. Oct. 11, 1947 ;-- CL 1948, 123.339

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 123 - Local Government

Act 235 of 1947 - Joint Water and Sewage Disposal System (123.331 - 123.347)

Section 123.331 - Public Corporation; Definition.

Section 123.332 - Water and Sewage Disposal System; Acquisition Through Change of Boundaries; Referendum.

Section 123.333 - Disposal System; Electors' Approval; Ordinance.

Section 123.334 - Disposal System; Joint Board or Commission, Control; Members, Election.

Section 123.335 - Disposal System; Alternative Plans for Division or Operation.

Section 123.336 - Disposal System; Retirement of Bonds; Noncallable Bonds; Bond and Interest Redemption Fund; Payment Priority; Bonds Subject to Revenue Bond Act of 1933.

Section 123.337 - Disposal System; Operation as a Single Unit; Segregation and Disposition of Revenues, Retirement of Bonds.

Section 123.338 - Disposal System; Operation as a Separate Unit After Retirement of Bonds; Collection and Disposition of Revenues.

Section 123.339 - Disposal System; Division Between Public Corporations; Proportionate Share of Expenses or Indebtedness.

Section 123.340 - Disposal System; Operation by Joint Board or Agency as Unit; Fund Payments; Depreciation, Contingent, and Surplus Funds; Revised Municipal Finance Act Inapplicable.

Section 123.341 - Disposal System; Apportionment of Revenues, Debts, Properties; Realty, Purchase, Use.

Section 123.342 - Disposal System Provisions Applicable.

Section 123.343 - Disposal System; Cumulative Effect of Act; Repeal of Authority Granted by Other Law.

Section 123.344 - Disposal System; Joint Acquisition by Public Corporations Under Other Statutes; Contracts.

Section 123.345 - Disposal System; Contracts for Division of Systems Existing or to Be Acquired.

Section 123.346 - Vote or Proceeding by Public Corporation Before Effective Date of Act; Validation.

Section 123.347 - Act Not Deemed Part of Bondholders' Contract; Proceedings Impairing Contracts Prohibited.