Michigan Laws 830.419a – Moneys of building authority; contract with bondholders; security for deposits
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Terms Used In Michigan Laws 830.419a
- Building authority: means the state building authority created by this act. See Michigan Laws 830.411
- Contract: A legal written agreement that becomes binding when signed.
The building authority may contract with the holders of its bonds as to the custody, collection, securing, investment, and payment of any moneys of the building authority. Moneys of the building authority and deposits of such moneys may be secured in the manner determined by the building authority. Banks and trust companies may give security for such deposits.