The authority must not incur any obligations, other than obligations related to administrative expenses, payable out of administrative funds. All other obligations are payable solely from program funds which limitation is clearly stated on the face of any bonds and in the text of any other obligation or contract. However, program funds may be used to pay administrative expenses.
HISTORY: 1983 Act No. 145 Section 23; 1992 Act No. 404, Section 8, eff July 1, 1992.
Effect of Amendment
The 1992 amendment added the last sentence.
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