Michigan Laws 324.50117 – Security for repayment of bonds
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 324.50117
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
The security for the repayment of bonds issued by the district may be a pledge or mortgage on all lands owned by the district and all of the district’s installations, buildings, and equipment, tools, furniture, fixtures, or other personal property owned by the district.