Michigan § 125.709a - Bond authorizing ordinance; fiscal agent; contract.
Full text of Michigan Michigan Compiled Laws § 125.709a — Bond authorizing ordinance; fiscal agent; contract., with citation guidance and answers to common questions.
§ 125.709a. Bond authorizing ordinance; fiscal agent; contract.
The bond authorizing ordinance shall provide for appointment of a fiscal agent and may provide for appointment of successor fiscal agents and alternate paying agents and such fiscal agents so designated shall be qualified to act as such under the laws of this state or the United States. The ordinance shall also provide for the removal of a fiscal agent upon written request of the holders of 51% in the aggregate of the principal of bonds issued thereunder or by resolution of the agent borrower, and for the obligations, responsibilities and duties of the fiscal agent.
The authorizing ordinance shall be a contract between the agent borrower, all cooperating borrowers and any holders of bonds issued thereunder.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 125.709a
What does Michigan Compiled Laws § 125.709a cover?
Section 125.709a ("Bond authorizing ordinance; fiscal agent; contract.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 125.709a?
A common citation format is "Michigan Compiled Laws § 125.709a" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 125.709a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.