Sec. 18f. If the aggregate maturities of the bonds exceed 15 years, the bonds shall not be issued until the state transportation department has approved the construction to be financed by the proceeds of the bonds. The sale price of the bonds shall not be less than the minimum price specified in the proceedings authorizing their issuance.
Mich. Comp. Laws § 247.668f
Approval of construction; sale price of bonds
Add. 1957, Act 262, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.