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Code · Michigan · Chapter 247 — Highways

247.668m Borrowing from a state infrastructure bank program.

111 words·~1 min read·/mi/chapter-247/247-668m

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247.668m Borrowing from a state infrastructure bank program.
Sec. 18m.
(1)A local road agency or a public transportation system may borrow money from a state infrastructure bank program administered by the department in accordance with regulations of the state infrastructure bank program of the United States Department of Transportation.
(2)As used in this section:
(a)"Local road agency" means that term as defined in section 9a.
(b)"Public transportation system" means that term as defined in section 2 of the regional transit authority act, 2012 PA 387, MCL 124.542.
History: Add. 2018, Act 507 , Eff. Mar. 29, 2019
Popular Name: McNitt Act
Popular Name: Michigan Transportation Fund Act
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