Sec. 12.
It shall and may be lawful for the municipal authorities of any city, village or town in which any company is or shall be formed for the purpose of supplying such city, village or town and the inhabitants thereof with water, to contract and agree with such company for the supply of water for public, municipal or other purposes, and for the time and mode of payment, and may issue their obligations therefor.
History: 1869, Act 113, Imd. Eff. Apr. 3, 1869 ;-- CL 1871, 3366 ;-- Am. 1873, Act 2, Imd. Eff. Jan. 22, 1873 ;-- How. 3121 ;-- CL 1897, 8511 ;-- CL 1915, 11293 ;-- CL 1929, 11886 ;-- CL 1948, 486.312
Structure Michigan Compiled Laws
Chapter 486 - Water and Power Companies
Act 113 of 1869 - Waterworks (486.301 - 486.318)
Section 486.301 - Waterworks in Municipalities; Incorporators; Powers.
Section 486.302 - Certificate; Contents, Filing and Recording; Body Corporate, Name.
Section 486.303 - Corporate Power to Hold Property.
Section 486.304 - Capital Stock; Fixed Amount, Increase.
Section 486.305 - Officers; Election, Term, Powers; Quorum of Stockholders; Right to Vote.
Section 486.306 - Corporate Powers.
Section 486.308 - Condemnation Proceedings.
Section 486.311 - Stockholder's Liability; Recovery Prerequisites; Contribution to Creditor.
Section 486.312 - Contract Between Municipality and Company; Obligations.
Section 486.313 - Stockholders; Annual and Special Meetings.
Section 486.314 - Officers of Company; Designation, Election, Bonding.
Section 486.316 - Purchase of Corporate Rights and Property by Municipality; Arbitration.
Section 486.318 - Company Fully Organized; Qualification, Powers, Financial Arrangements.