Sec. 3.
Said board of sinking fund commissioners shall have exclusive control of the money of the sinking fund, and shall faithfully apply the same whenever possible, or it may appear to the county's interests, to the payment of the principal and interest of the bonded indebtedness of the county, and to no other purpose whatever, excepting as herein otherwise provided.
History: 1913, Act 42, Eff. Aug. 14, 1913 ;-- CL 1915, 2388 ;-- CL 1929, 1237 ;-- CL 1948, 141.13
Structure Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 42 of 1913 - County Sinking Fund Commission (141.11 - 141.20)
Section 141.11 - County Sinking Fund Commissioners.
Section 141.12 - County Sinking Fund Commissioners; Handling of Fund, Investment.
Section 141.13 - County Sinking Fund Commissioners; Control of Fund, Application.
Section 141.15 - County Treasurer; Duties as Custodian, Bond.
Section 141.16 - Condition Reports to Supervisors; Tax Recommendations.
Section 141.17 - Tax Levy; Bond Sale Proceeds, Interest, Deposit.
Section 141.18 - Per Diem; Expenses; County Charge.