Michigan Laws 324.95202 – Financing sewage treatment works projects, storm water projects, and nonpoint source projects; bonds
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Terms Used In Michigan Laws 324.95202
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The state shall borrow a sum not to exceed $1,000,000,000.00 and issue the general obligation bonds of the state, pledging the full faith and credit of the state for the payment of principal and interest on the bonds, to finance sewage treatment works projects, storm water projects, and nonpoint source projects, that improve the quality of the waters of the state.