Sec. 26.
Any borrower purchasing, acquiring, constructing, improving, enlarging, or repairing any such project or combined projects assumed by the provisions of this act, may at the time of the authorization of such bond for any such purpose or purposes, provide in the authorizing ordinance for additional bonds for other extensions and permanent improvements, which additional bonds may be issued and negotiated from time to time as such proceeds for such purpose may be necessary. Such bonds, when so negotiated, shall have equal standing with the bonds of the same issue.
History: 1933, Ex. Sess., Act 18, Imd. Eff. Jan. 9, 1934 ;-- CL 1948, 125.676
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 18 of 1933 (Ex. Sess.) - Housing Facilities (125.651 - 125.709e)
Section 125.651 - Definitions.
Section 125.652 - Cities, Villages, Townships, Counties; Housing Facilities and Conditions, Powers.
Section 125.653a - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
Section 125.656 - Municipal Housing Commission; Funds for Operation.
Section 125.657 - Municipal Housing Commission; Powers and Duties.
Section 125.659 - Municipal Housing Commission; Report to Governing Body.
Section 125.660 - Municipal Housing Commission; Proceedings Under Power of Eminent Domain.
Section 125.661 - Municipal Housing Commission; Deeds, Mortgages, Contracts, Leases, Purchases.
Section 125.661a - Property, Income, and Operations Exempt From State Taxation.
Section 125.662 - Municipal Housing Commission; Control of Project.
Section 125.663 - Claims Against Project; Damages; Asserting Governmental Immunity as Defense.
Section 125.664 - Claims Against Project; Contractual.
Section 125.665 - Preliminary Estimate of Costs.
Section 125.667 - Revenue Bonds Generally.
Section 125.668 - Bondholder's Lien; Contributions Contract.
Section 125.669 - Bondholder's Lien Upon Revenue; Enforcement.
Section 125.670 - Receiver; Appointment; Powers and Duties.
Section 125.671 - Bonds; Inapplicability of Other Laws.
Section 125.672-125.674 - Repealed. 2002, Act 268, Imd. Eff. May 9, 2002.
Section 125.675 - Free Services.
Section 125.676 - Additional Bonds.
Section 125.677 - Rent Schedule; Policy of State; Basis; Limitation.
Section 125.681 - Income From Sources Other Than Operation; Use.
Section 125.683 - Operating Year.
Section 125.684 - Rents; Supervision; State Department of Health.
Section 125.687 - Construction of Act.
Section 125.689 - Authority Conferred.
Section 125.690 - Declaration of Necessity; Liberal Construction.
Section 125.692 - Slum Clearance and Housing Projects as Public Purposes.
Section 125.693 - Immediate Necessity.
Section 125.694a - Tenancy or Contract Right to Occupy Housing; Termination; Just Cause.
Section 125.694b - Municipal Housing Commission; Rules; Adoption; Promulgation; Publication.
Section 125.695 - Minimum Wages and Maximum Hours; Contract Provisions.
Section 125.696 - Additional Powers; Intent of Act.
Section 125.697 - Promissory Notes; Issuance; Authorization; Principal and Interest as Indebtedness.
Section 125.698 - Bonds; Powers of Borrower.
Section 125.699-125.704 - Repealed. 1996, Act 338, Imd. Eff. June 27, 1996.
Section 125.705 - Application of Act.
Section 125.706 - Cooperative Action by Borrowers; Scope.
Section 125.707 - Cooperative Financing Arrangement; Resolution; Agent Borrower.
Section 125.708 - Financing Agreement; Preparation; Terms.
Section 125.709 - Special Obligation Notes or Revenue Bonds; Authorization; Issuance.
Section 125.709a - Bond Authorizing Ordinance; Fiscal Agent; Contract.
Section 125.709b - Bond Proceeds; Payment Order; Execution; Delivery.
Section 125.709c - Revenues, Disposition, Purpose; Fiscal Agent, Duties.
Section 125.709d, 125.709e - Repealed. 1996, Act 338, Imd. Eff. June 27, 1996.