Section 120.125 - Surplus of unencumbered funds; disposition. - Michigan Statutes

HERTEL-LAW-T. STOPCZYNSKI PORT AUTHORITY ACT (EXCERPT)
Act 639 of 1978

120.125 Surplus of unencumbered funds; disposition.

Sec. 25.

If at the end of a fiscal year a surplus of unencumbered funds remains after providing for the operating expenses of an authority, the authority may pay that surplus into the general funds of the state and of its constituent units in the same proportion which the appropriations made by each to the authority bear to each other.

History: 1978, Act 639, Imd. Eff. Jan. 11, 1979
Compiler's Notes: See Compiler's note to MCL 120.130.