Sec. 49.
A loan, loan insurance, or loan guarantee shall not be provided from the local government assistance account unless it is for a public work which will assist an economic development project and unless the fund finds that there is significant private sector financial support associated with the 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)
270-1984-4 - 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.