If a default occurs in the payment of principal, interest, or other income of an investment of the investment pool, the treasurer of the participating county may do 1 or more of the following:
  (a) Institute a proceeding to collect the matured principal, interest, or other income.

Terms Used In Michigan Laws 129.149

  • Investment pool: means a local government investment pool authorized in section 3. See Michigan Laws 129.142
  • Participating county: means a county that has been authorized by the county governing body to enter into a contract with another local unit pursuant to section 4. See Michigan Laws 129.142
  (b) Accept a compromise, adjustment, or disposition of the matured principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting the money invested in the investment pool.
  (c) Accept a compromise or adjustment as to future payments of principal, interest, or other income as the county treasurer considers advisable for the purpose of protecting money invested in the investment pool.
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