Section 125.1860 - Transfer of funds for urban land banking purposes, loan interest, authority to receive repayments, and related records to fund.
MICHIGAN URBAN LAND ASSEMBLY ACT (EXCERPT)
Act 171 of 1981
125.1860 Transfer of funds for urban land banking purposes, loan interest, authority to receive repayments, and related records to fund.
Sec. 10.
All funds for urban land banking purposes, including unexpended appropriations made under Act No. 401 of the Public Acts of 1978, interest earned on loans and investments of funds for urban land banking purposes, and the authority to receive repayments of interest and principal on loans made of funds for urban land banking purposes, and all related records shall be transferred intact from the Michigan state housing development authority to the fund created by this act.
History: 1981, Act 171, Imd. Eff. Dec. 3, 1981