Section 324.95231 – Short Title.
324.95231 Short title. Sec. 1. This act shall be known and may be cited as the “marina dredging loan origination act”. History: 2013, Act 10, Imd. Eff. Mar. 27, 2013
Section 324.95232 – Definitions.
324.95232 Definitions. Sec. 2. As used in this act: (a) “Bottomland” means the land area of a water body that lies below the ordinary high-water mark and that may or may not be covered by water. (b) “Dredging” means the removal of sediments from bottomland. (c) “Dredging costs” means the costs associated with dredging that […]
Section 324.95233 – Marina Dredging Loan Origination Program; Establishment; Requirements; Limitation on Loan Amount.
324.95233 Marina dredging loan origination program; establishment; requirements; limitation on loan amount. Sec. 3. (1) The state treasurer may establish a marina dredging loan origination program as provided in this act. (2) The program shall meet all of the following: (a) A qualified financial institution shall make marina dredging loans before March 1, 2014. (b) […]
Section 324.95234 – Powers and Duties of State Treasurer, Attorney General, and Qualified Financial Institution; Program as Valid Public Purpose.
324.95234 Powers and duties of state treasurer, attorney general, and qualified financial institution; program as valid public purpose. Sec. 4. (1) The state treasurer may take any necessary action to ensure the successful operation of the program, including, but not limited to, entering into agreements with qualified financial institutions related to the operation of the […]
Section 324.95235 – Appropriation; Expenditure.
324.95235 Appropriation; expenditure. Sec. 5. (1) An amount sufficient to pay loan origination fees under this act, not to exceed $1,000,000.00, shall be expended if it is appropriated to the department of treasury. (2) The appropriation authorized in this section is a work project appropriation, and any unencumbered or unallotted funds are carried forward into […]