{"data":{"id":"us-mi/mich.-comp.-laws-124.552","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 124.552","heading":"Financial obligation of authority.","body":"Sec. 12.\n\n(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.\n\n(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.","path":["MI Code","Chapter 124","Act Act-387-of-2012"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-124-552","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"df2d9cff0fee936d8710b73890f856d82e0f51b31023502a0d2b454c2d8b0390","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-124.551","next":"us-mi/mich.-comp.-laws-124.553"},"notice":"GroundRules: Original legal text. Not legal advice."}