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Mich. Comp. Laws § 124.552

Financial obligation of authority.

Michigan · Michigan Compiled Laws — REGIONAL TRANSIT AUTHORITY ACT (Act 387 of 2012) · Status: effective

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Mich. Comp. Laws § 124.552, Financial obligation of authority, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1340933
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(1) The revenue raised by an authority may be pledged, in whole or in part, for the repayment of bonded indebtedness and other expenditures issued or incurred by the authority. (2) A financial obligation of an authority is a financial obligation of the authority only and not an obligation of this state or any city or county within a public transit region. A financial obligation of an authority shall not be transferred to this state or any city or county within a public transit region.