Sec. 16.
The proceeds of sale of the bonds or any series thereof shall be deposited in the state treasury in a separate account and shall be disbursed therefrom only for the purposes for which the bonds have been authorized and the expense of issuing said bonds. Any premium and accrued interest received on the delivery of the bonds shall be deposited in the general fund. Proceeds of sale of the bonds or any series thereof shall be expended for the purposes set forth in this act in the manner as provided by law.
History: 1974, Act 370, Imd. Eff. Dec. 23, 1974
Structure Michigan Compiled Laws
Chapter 35 - Veterans and Members of Armed Forces
Act 370 of 1974 - Vietnam Veteran Era Bonus Act (35.1021 - 35.1038)
Section 35.1021 - Short Title.
Section 35.1022 - Definitions.
Section 35.1023 - Service Bonus for Combat Veterans and Veterans; Amount.
Section 35.1024 - Bonus as Both Veteran and Combat Veteran Prohibited.
Section 35.1028 - Expenses of Administration; Appropriation.
Section 35.1029 - Wilful False Statement; Penalty.
Section 35.1030 - Payments Deemed Gifts or Gratuities.
Section 35.1031 - Time Limitation on Application for Benefits; Exception.
Section 35.1032 - Person Not Disqualified by Eligibility or Application for Other Benefits.
Section 35.1033 - Federal Financial Aid or Other Assistance.