WATCH: Whitmer talks education, internet connectivity

LANSING, Mich. (AP) — The Michigan Legislature on Tuesday finalized a bill that would lengthen the financing period of lake projects in the wake of flooding that damaged dams and drained lakes in the Midland area.

The legislation would extend, from 10 years to 40 years, the maximum maturity date of bonds issued to pay for inland lake-level control projects across the state. Special assessments are levied on lakefront properties and “back lots” with deeded or dedicated lake access to repay the borrowed funds.