Sec. 12.
(1) Significant private sector financial support shall be associated with all of the following transactions of the fund or any of its concerns:
(a) A product or an economic development project for which an applicant is being provided assistance from the fund or any of its centers.
(b) An economic development project in assistance of which, directly or indirectly, an applicant other than a municipality will use the financial support of the fund.
(2) Private sector financial support shall be associated with any loan or lease insurance, guarantee, or letter of credit being provided by the fund or any of its centers in relation to an economic development project.
History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)
270-1984-1 - Chapter 1 (125.2001...125.2014)
Section 125.2001 - Legislative Finding and Declaration.
Section 125.2002 - Purposes of Act.
Section 125.2003 - Short Title.
Section 125.2004 - Definitions.
Section 125.2007 - Powers and Duties of Fund.
Section 125.2007a - Compliance With Divestment From Terror Act.
Section 125.2007b - Advisory Committee; Projects Relating to Port Facilities; Recommendations.
Section 125.2008 - Evaluation Procedures; Priorities; Targets.
Section 125.2010 - Applicability of Limitation or Restriction.
Section 125.2011 - Request for Assistance; Approval or Disapproval; Reconsideration.
Section 125.2012 - Private Sector Financial Support; Associated Transactions.
Section 125.2012a - Loan, Loan Insurance, or Guarantee for Public Work; Requirements.