{"data":{"id":"us-mi/mich.-comp.-laws-125.1251","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 125.1251","heading":"Legislative determination; short title.","body":"Sec. 1.\n\nIt is determined that there exists in this state the continuing need for programs to alleviate and prevent conditions of unemployment, to assist and retain local industries, including employee-owned corporations, to meet growing competition for new industries, and to strengthen and revitalize the economy in general. It is further determined that in order to achieve these purposes, industries, including employee-owned corporations, need flexible forms of financing, including the ability to refund outstanding bonds in advance of redemption or maturity. It is further determined that the authority and powers conferred by this act constitute such a necessary program and serve a valid public purpose.\n\nThis act shall be known and may be cited as the \"industrial development revenue bond act of 1963\".","path":["MI Code","Chapter 125","Act Act-62-of-1963"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-125-1251","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ec3cf2663cdfaa6e3f6c2f803a753859105dcd22538e8b14c987a7bf12d384c5","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-125.2219","next":"us-mi/mich.-comp.-laws-125.1252"},"notice":"GroundRules: Original legal text. Not legal advice."}