Sec. 44.
Subject to the limitations provided by this chapter, the fund may utilize money held in the local government assistance account for 1 or more of the following purposes:
(a) To make loans to a municipality.
(b) To establish a reserve fund to insure or guarantee borrowings of a municipality.
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)
270-1984-4 - Chapter 4 (125.2041...125.2049a)
Section 125.2041 - "Public Work" Defined.
Section 125.2042 - Center for Assistance to Local Government; Establishment and Operation.
Section 125.2043 - Local Government Assistance Account; Payments Into Account; Transfer of Money.
Section 125.2044 - Utilization of Money; Purposes.
Section 125.2045 - Loans, Loan Insurance, or Guarantees; Requirements.
Section 125.2048 - Loans, Loan Insurance, or Loan Guarantees; Terms and Conditions.
Section 125.2049 - Loans, Loan Insurance, or Loan Guarantees; Conditions.