Michigan Laws 3.228 – Depositing funds received by political subdivisions
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 3.228
- Agreement: shall mean "contract" and shall include renewals and alterations of a contract. See Michigan Laws 3.221
- Governing body: shall mean the board, body, or persons in which the powers of a political subdivision as a body corporate, or otherwise, are vested. See Michigan Laws 3.221
- Political subdivision: shall mean any agency or unit of this state which now is, or hereafter shall be, authorized to levy taxes or empowered to cause taxes to be levied. See Michigan Laws 3.221
All money received by a political subdivision pursuant to section 5 or 6 shall be deposited in such fund or funds as may be designated in the agreement: Provided, however, That if the agreement does not make such designation, the money shall be deposited in such fund or funds as the governing body of such political subdivision shall by appropriate resolution direct.