Michigan Laws 125.2044 – Utilization of money; purposes
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Subject to the limitations provided by this chapter, the fund may utilize money held in the local government assistance account for 1 or more of the following purposes:
(a) To make loans to a municipality.
Terms Used In Michigan Laws 125.2044
- Fund: means the Michigan strategic fund created under section 5, except where the context clearly requires a different definition. See Michigan Laws 125.2004
- Municipality: means a county, city, village, township, port district, development organization, institution of higher education, community or junior college, or subdivision or instrumentality of any of the legal entities listed in this subdivision. See Michigan Laws 125.2004
(b) To establish a reserve fund to insure or guarantee borrowings of a municipality.