{"data":{"id":"us-mi/mich.-comp.-laws-35.1036","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 35.1036","heading":"Bonds; disposition and disbursement of proceeds; deposit of premium and accrued interest.","body":"Sec. 16.\n\nThe proceeds of sale of the bonds or any series thereof shall be deposited in the state treasury in a separate account and shall be disbursed therefrom only for the purposes for which the bonds have been authorized and the expense of issuing said bonds. Any premium and accrued interest received on the delivery of the bonds shall be deposited in the general fund. Proceeds of sale of the bonds or any series thereof shall be expended for the purposes set forth in this act in the manner as provided by law.","path":["MI Code","Chapter 35","Act Act-370-of-1974"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-35-1036","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"443b709d499f19c97194339939e2a2b1029a23acf1115b8351a56c88681efab0","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-35.1035","next":"us-mi/mich.-comp.-laws-35.1037"},"notice":"GroundRules: Original legal text. Not legal advice."}