Sec. 4.
(1) The total combined authorized credit limit of all credit cards issued by a local unit shall not exceed 5% of the total budget of the local unit for the current fiscal year.
(2) The governing body of a local unit may include in its budget and pay the balance due on any credit cards, including the annual fee and interest.
History: 1995, Act 266, Eff. July 8, 1996
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