{"data":{"id":"us-mi/mich.-comp.-laws-141.1070","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 141.1070","heading":"State pledge to and agreement with holders of bonds or notes.","body":"Sec. 20.\n\nThis state pledges to and agrees with the holders of bonds or notes issued under this act that this state shall not limit or restrict the rights vested in the authority by this act to do any 1 or more of the following:\n\nPurchase, acquire, hold, sell, or dispose of municipal obligations or other investments.\n\nMake loans to a governmental unit.\n\nEstablish and collect fees or other charges as are convenient or necessary to produce sufficient revenues to meet the expenses of operation of the authority.\n\nFulfill the terms of an agreement made with the holders of authority bonds or notes, or in any way impair the rights or remedies of the holders of authority bonds or notes until the bonds and notes, together with interest on the bonds or notes and interest on any unpaid installments of interest, and all costs and expenses in connection with an action or proceedings by or on behalf of those holders are fully met, paid, and discharged.","path":["MI Code","Chapter 141","Act Act-227-of-1985"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-141-1070","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"4ed9dd27b3115816ba62a9b39a15c909388ab4f94af90afb274febf10502bcc7","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-141.1069","next":"us-mi/mich.-comp.-laws-141.1071"},"notice":"GroundRules: Original legal text. Not legal advice."}