Michigan Compiled Laws
451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707)
451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522)

Section 324.50501 - Purpose of Part. - Sec. 50501. The purpose of this part and of the...

Section 324.50502 - Definitions. - Sec. 50502. As used in this part: (a) "Authority" means...

Section 324.50503 - Michigan Forest Finance Authority; Creation; Exercise of Powers, Duties, and Functions; Handling of Funds. - Sec. 50503. The Michigan forest finance authority is created as...

Section 324.50504 - Board of Directors; Appointment; Terms; Oath; Vacancy; Persons Subject to MCL 15.321 to 15.330; Discharge of Duties; Policies and Procedures; Conducting Business at Public Meetings; Notice; Quorum; Actions of Board; Representative... - Sec. 50504. (1) The authority shall be governed by a...

Section 324.50505 - Election of Chairperson and Vice-Chairperson; State Forester as Executive Director; Qualifications, Duties, and Compensation of Employees; Delegation of Powers or Duties; Rights and Interests of Authority; Annual Report; Audits; R... - Sec. 50505. (1) The authority shall elect a chairperson and...

Section 324.50506 - Powers of Board. - Sec. 50506. Except as otherwise provided in this part, the...

Section 324.50507 - Financing Forest Management Operations and Practices; Application of Funds; Interim Procedure; Annual List of Activities and Practices; Projection of Probable Default; Contracts for Cutting and Sale of Timber; Forest Development F... - Sec. 50507. (1) The authority shall finance only forest management...

Section 324.50508 - Department as Agent for Authority; Conveyance of State's Interest in Contracts Granting Timber Cutting Rights; Deposit of Money Received; Conveyance of Title to Timber. - Sec. 50508. (1) Except as provided in section 50507(3), the...

Section 324.50509 - Bonds and Notes Generally; Expenses; Expenditures. - Sec. 50509. (1) The authority may authorize and issue its...

Section 324.50510 - Bonds or Notes; Purposes; Payment; Requirements; Signature of Board Member or Office of Authority; Sale of Bonds or Notes; Applicability of Other Laws; Interest Rate Agreement. - Sec. 50510. (1) The authority may issue from time to...

Section 324.50511 - Refunding Bonds or Notes. - Sec. 50511. (1) The authority may provide for the issuance...

Section 324.50512 - Security to Assure Timely Payment of Bond or Note. - Sec. 50512. (1) The authority may authorize and approve an...

Section 324.50513 - Bonds or Notes; Authority of Board Member, Executive Director, or Other Officer of Authority. - Sec. 50513. Within limitations that shall be contained in the...

Section 324.50514 - Resolution Authorizing Bonds or Notes; Provisions. - Sec. 50514. A resolution authorizing bonds or notes may provide...

Section 324.50515 - Pledge. - Sec. 50515. A pledge made by the authority shall be...

Section 324.50516 - Personal Liability on Bonds or Notes. - Sec. 50516. Neither the members of the authority nor any...

Section 324.50517 - Purchasing, Holding, Canceling, or Reselling Bonds or Notes. - Sec. 50517. The authority may purchase bonds or notes of...

Section 324.50518 - Rights and Remedies. - Sec. 50518. The state pledges to and agrees with the...

Section 324.50519 - Bonds or Notes as Legal Investments; Security. - Sec. 50519. Notwithstanding any restriction contained in any other law,...

Section 324.50520 - Property and Income of Authority; Exemption From Taxes and Special Assessments; Bonds or Notes Exempt From Taxation. - Sec. 50520. Property of the authority is public property devoted...

Section 324.50521 - Liberal Construction; Broad Interpretation. - Sec. 50521. This part shall be construed liberally to effectuate...

Section 324.50522 - Rules. - Sec. 50522. The authority may promulgate rules as necessary to...