Michigan HB4862 amends the Port Authorities Act to modify authorities' use of grant funds, issuance of revenue bonds, and ancillary financing.

Michigan HB4862 amends the Port Authorities Act, which authorizes the establishment of port authorities in cities and counties. The bill modifies authorities' use of grant funds, issuance of revenue bonds, and ancillary financing facilities. It allows port authorities to enter into, amend, or terminate ancillary financing facilities for purposes such as hedging risk, achieving a desirable effective interest rate, or purchasing or selling securities.

Michigan HB4862 amends the Port Authorities Act to modify authorities' use of grant funds, issuance of revenue bonds, and ancillary financing.

Michigan HB4862 amends the Port Authorities Act, which authorizes the establishment of port authorities in cities and counties. The bill modifies authorities' use of grant funds, issuance of revenue bonds, and ancillary financing facilities. It allows port authorities to enter into, amend, or terminate ancillary financing facilities for purposes such as hedging risk, achieving a desirable effective interest rate, or purchasing or selling securities.