{"data":{"id":"us-mi/mich.-comp.-laws-324.4505","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 324.4505","heading":"Revenues; disposition.","body":"Sec. 4505.\n\nThe proceeds of sale of the bonds or any series of the bonds and any premium and accrued interest received on the delivery of the bonds shall be deposited in the treasury in a separate account and shall be disbursed from the separate account only for the purposes for which the bonds have been authorized and for the expense of issuing the bonds. Proceeds of sale of the bonds or any series of the bonds shall be expended for the purposes set forth in this part in the manner provided by law.","path":["MI Code","Chapter 324","Act Act-451-of-1994"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-324-4505","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"08752388dce3ee4dc8e00091de7c790466dcc956354dda2f89f384b6b0993684","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-324.4504","next":"us-mi/mich.-comp.-laws-324.4506"},"notice":"GroundRules: Original legal text. Not legal advice."}