Section 123.152 - Joint source; cities having outstanding water revenue bonds.
WATER SUPPLY; JOINT SOURCE (EXCERPT)
Act 130 of 1945
123.152 Joint source; cities having outstanding water revenue bonds.
Sec. 2.
If any city issuing bonds hereunder shall then have outstanding other water revenue bonds which constitute a prior lien on the revenues of the city's water system, bonds may be issued hereunder in such manner as to be subordinate to the outstanding bonds.
History: 1945, Act 130, Imd. Eff. Apr. 27, 1945 ;-- CL 1948, 123.152