Michigan Compiled Laws
Act 175 of 1952 - Borrowing From Motor Vehicle Highway Fund (247.701 - 247.707)
Section 247.707 - Prohibition of Pledges.

Sec. 7.
Nothing in this act contained shall be construed as permitting any city or village to pledge such portion of the future revenues derived from state collected taxes returned to such city or village for road purposes which are pledged by law, ordinance, resolution or contract for the payment of bonds.
History: 1952, Act 175, Imd. Eff. Apr. 25, 1952

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 247 - Highways

Act 175 of 1952 - Borrowing From Motor Vehicle Highway Fund (247.701 - 247.707)

Section 247.701 - Borrowing Money and Issuing Bonds; Purposes; Bonds Subject to Revised Municipal Finance Act; Refunding Bonds; Sale; Refund Prohibited Under Certain Conditions.

Section 247.702 - Authorization of Bonds; Cities and Villages; Resolution, Approval, Publication, Contents.

Section 247.703 - Bonds; Principal and Interest; Payment; Additional Security; Existing Contract Rights; Priority.

Section 247.704 - Issuance of Bonds for Highway Purposes; Cities and Villages; Successive Borrowing.

Section 247.705 - Revenues Set Aside; Source.

Section 247.706 - Repealed. 2002, Act 330, Imd. Eff. May 23, 2002.

Section 247.707 - Prohibition of Pledges.