Sec. 18m. (1) A local road agency or a public transportation system may borrow money from a state infrastructure bank program administered by the department in accordance with regulations of the state infrastructure bank program of the United States Department of Transportation. (2) As used in this section: (a) "Local road agency" means that term as defined in section 9a. (b) "Public transportation system" means that term as defined in section 2 of the regional transit authority act, 2012 PA 387, MCL 124.542.
Mich. Comp. Laws § 247.668m
Borrowing from a state infrastructure bank program
Add. 2018, Act 507, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.