CONSUMERS POWER DISTRICT BORROWING AND INDEBTEDNESS
49-39-1 Authority to borrow--Funds available for repayment--Security for loan. 49-39-2 Pledging revenues as security for borrowing. 49-39-3 Resolution specifying particular revenues pledged. 49-39-4 Refunding of indebtedness--Issuance of refunding securities--Disposition of proceeds. 49-39-5 Payment of pledged revenues into special fund--Use of revenues--Designation of depository. 49-39-6 Sale of bonds. 49-39-6.1 Issuance of variable rate obligations--Authorization by resolution--Scope. 49-39-6.2 Enhancement of security for variable rate obligations--Credit agreements--Payment of costs. 49-39-7 Agreement with bondholders respecting charges for electricity. 49-39-8 Pledging revenues to secure federal indebtedness--State not liable. 49-39-9 Default on bonds--Operation of district by creditors--Priority of payment--Restoration of district to control. 49-39-10 Default on bonds--Court appointment of receiver--Authority of receiver to operate district--Discharge of receiver and return of district to control. 49-39-11 Pledges of revenues and refunding securities--Validation--Retroactive application.