{"data":{"id":"us-mi/mich.-comp.-laws-141.108","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 141.108","heading":"Lien on revenue in favor of bondholders.","body":"Sec. 8.\n\nThere shall be created in the authorizing ordinance a lien, by this act made a statutory lien, upon the net revenues pledged to the payment of the principal of and interest upon such bonds, to and in favor of the holders of such bonds and the interest coupons pertaining thereto, and each of such holders, which liens shall be a first lien upon such net revenues, except where there exists a prior lien or liens then such new lien shall be subject thereto.","path":["MI Code","Chapter 141","Act Act-94-of-1933"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-141-108","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"704fe9695e98f6281f4bc3441cd0959a1a98a456f1cb37762b44e52bcd09db5c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-141.107b","next":"us-mi/mich.-comp.-laws-141.109"},"notice":"GroundRules: Original legal text. Not legal advice."}