259.251 Continuing airport loan program; creation; administration; purpose. Sec. 1. A continuing airport loan program is created to be administered by the department of state highways and transportation through the aeronautics commission for the purpose of making loans to counties, cities, townships, and incorporated villages, or any combination thereof to assist in the construction and […]
259.252 Revolving loan account; appropriation, administration. Sec. 2. The sum of $250,000.00 is appropriated from the state aeronautics fund to be administered by the aeronautics commission for the establishment of a revolving loan account to implement the provisions of this act. History: 1969, Act 107, Imd. Eff. July 24, 1969
259.253 Loans; rules; limitation; repayment period; interest rate; collection and disposition of repayments and interest. Sec. 3. The commission shall promulgate rules pursuant to Act No. 306 of the Public Acts of 1969, as amended, being sections 24.201 to 24.315 of the Michigan Compiled Laws, for making loans pursuant to section 1 not to exceed […]
259.254 Aeronautics commission; report to legislature, time, contents. Sec. 4. At the end of each fiscal year, the commission shall submit to the legislature a report showing total funds available for loans, itemization of loans made, and repayment of loans and interest received. History: 1969, Act 107, Imd. Eff. July 24, 1969
259.255 Supplemental construction of act. Sec. 5. This act shall be construed as supplemental to the laws of this state relative to improvement of airports. History: 1969, Act 107, Imd. Eff. July 24, 1969
