Act Not Deemed Part of Bondholders' Contract; Proceedings Impairing Contracts Prohibited.

  1. Law
  2. Michigan Compiled Laws
  3. Local Government
  4. 235 of 1947 - Joint Water and Sewage Disposal System (123.331 - 123.347)
  5. Act Not Deemed Part of Bondholders' Contract; Proceedings Impairing Contracts Prohibited.

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Sec. 17.

This act shall not be deemed to be a part of the bond contract between a public corporation hereafter issuing any revenue bonds and the holders of such bonds, and no proceedings shall be taken hereunder which will impair the contract rights of such bondholders.

History: 1947, Act 235, Eff. Oct. 11, 1947 ;-- CL 1948, 123.347


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