Sec. 49a.
The fund shall give paramount priority in providing loans, loan insurance, and loan guarantees from the local government assistance account to municipalities whose past borrowing practices evidence the ability and commitment to make timely payment of principal and interest installments for its obligations and for public works which assist economic development projects which have the greatest potential for creating new jobs or retaining current jobs within this state.
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.
Section 125.2049a - Paramount Priority.