Sec. 19606.
(1) The clean Michigan initiative bond fund is created in the state treasury.
(2) The fund shall consist of all of the following:
(a) The proceeds of sales of the bonds and any premium and accrued interest received on the delivery of the bonds.
(b) Any interest or earnings generated by the proceeds described in subdivision (a).
(c) Any repayment of principal and interest made under a loan program authorized in this part.
(d) Any federal or other funds received.
(3) The department of treasury may establish restricted subaccounts within the fund as necessary to administer the fund.
History: Add. 1998, Act 288, Eff. Dec. 1, 1998 Popular Name: Act 451Popular Name: NREPA
Structure Michigan Compiled Laws
Chapter 324 - Natural Resources and Environmental Protection
Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106)
Article II - Pollution Control (324.3101...324.21563)
451-1994-II-6 - Chapter 6 Environmental Funding (324.19101...324.19708)
451-1994-II-6-196 - Part 196 Clean Michigan Initiative Implementation (324.19601...324.19616)
Section 324.19601 - Definitions.
Section 324.19602 - Findings and Declaration.
Section 324.19604 - Bonds as Negotiable and Exempt From Taxation.
Section 324.19605 - Bonds as Securities; Investment of Funds.
Section 324.19608a - Clean Michigan Initiative Grant and Revolving Loan Program.
Section 324.19608b - Grants and Loans Under MCL 324.19608(1)(a)(iv); Conditions.
Section 324.19609 - Grant or Loan Application; Form or Format; Funds Under MCL 324.19608(1)(a)(iv).
Section 324.19610a - Funding Provided Under MCL 324.19608(1)(iv); Conditions.
Section 324.19611 - Balancing Distribution of Grants and Loans; Considerations.
Section 324.19613 - Grants and Loans Under MCL 324.19608; Conditions.
Section 324.19614 - Recovery of Costs.