Sec. 14.
A township borrowing pursuant to section 13 may enter into a contract with the corporation described in section 13 for the issuance and delivery to the corporation or its assigns of self-liquidating and fully negotiable revenue bonds for the repayment of the loan with interest on the bonds not exceeding the legal rate, according to terms and conditions consistent with sections 1 to 20a and agreed upon between the township board and the lending corporation.
History: Add. 1951, Act 201, Imd. Eff. June 14, 1951 ;-- Am. 1989, Act 83, Imd. Eff. June 20, 1989
Structure Michigan Compiled Laws
Section 41.332 - Water Mains and Fittings; Purchase, Installation, and Maintenance.
Section 41.334 - Percentage of Net Cost Remaining After Application of MCL 41.333; Payment.
Section 41.336 - Publication of Plan Adopted Under MCL 41.335.
Section 41.338 - Installation of Improvement by Township Board; Loan.
Section 41.339 - Excess Money; Deposit in Contingent Fund; Applicability of Section.
Section 41.343 - Township Water Supply and Sewage Disposal System; Loan From Corporation; Bonds.
Section 41.346 - Statutory Lien Upon Net Revenues; Net Revenues as Trust Funds.
Section 41.347 - Duration and Enforcement of Statutory Lien.
Section 41.350 - Operation or Maintenance of Public Improvement; Appropriation to Pay Expenses.
Section 41.350a - Powers Conferred by MCL 41.331 to 41.350.
Section 41.350b - Water Service for Fire Protection Within District; Special Assessment; Resolution.
Section 41.350c - Contents of Resolution Required by MCL 41.350b.
Section 41.350d - Annual Fire Protection Cost; Payment.
Section 41.350e - Fixing Date for Public Hearing.
Section 41.350f - Preparation and Levy of Assessment; Report.
Section 41.350h - Conducting Business at Public Meeting; Notice.
Section 41.350i - Public Hearing; Objections; Determination; Equitable Change.
Section 41.350j - Review, Correction, and Confirmation of Assessment Roll; Collection.
Section 41.350k - Annual Determination of Amount to Be Assessed; Levy; Additional Hearings.
Section 41.350l - Contract With Another Township, City, or Village for Supplying Water.
Section 41.350n - Provisions to Which Transaction Authorized by MCL 41.350m Subject.
Section 41.350o - Notes Issued Under MCL 41.350m.
Section 41.350p - Pledge of Sales Tax Money by Ordinance.
Section 41.350q - Withholding and Paying Lender Constitutionally Allocated Money.
Section 41.350r - Exercise of Powers by Ordinance; Procedure.
Section 41.350s - Effective Date of Ordinance Authorized by MCL 41.350r; Petition; Election.
Section 41.350t - Powers Cumulative.
Section 41.350u - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
Section 41.351z - Repealed. 1989, Act 83, Imd. Eff. June 20, 1989.