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Section 129.261 - Short Title. - Sec. 1. This act shall be known and may be...
Section 129.262 - Legislative Findings and Declaration. - Sec. 2. The legislature finds and declares the following: (a)...
Section 129.263 - Definitions. - Sec. 3. As used in this act: (a) "Ancillary facility"...
Section 129.264 - Michigan Tobacco Settlement Finance Authority; Creation; Separate Legal Entity; Issuance of Bonds Generally. - Sec. 4. (1) The Michigan tobacco settlement finance authority is...
Section 129.265 - Authority; Duties; Administrative Functions. - Sec. 5. The authority shall exercise its duties independently of...
Section 129.266 - Board of Directors; Membership; Terms; Vacancy; Compensation; Reimbursement; Chairperson; Quorum; Vote; Agents and Employees; Discharge of Duties by Member, Officer, Employee, or Agent; Independent Public Financial Advisor. - Sec. 6. (1) The authority shall exercise its duties through...
Section 129.267 - Powers of Authority. - Sec. 7. The authority shall have all of the following...
Section 129.268 - Sale of State's Tobacco Receipts; Terms; Agreement; Refunding, Refinancing, and Sale of Residual Interests; Purchase Price; Remedies; Approval by Resolution Adopted by State Administrative Board; Absolute Transfer; Limitation on Use... - Sec. 8. (1) The state budget director with the approval...
Section 129.269 - Obligations. - Sec. 9. The issuance of bonds and the execution of...
Section 129.270 - Creation of Authority; Purpose as Public and Governmental; Property and Income Exempt From Tax; Interest. - Sec. 10. (1) It is determined that the creation of...
Section 129.271 - Duties of State Before Payment or Discharge of Bonds and Ancillary Facilities. - Sec. 11. (1) This state hereby pledges and agrees with...
Section 129.272 - Effect of Bonds Issued Under Act. - Sec. 12. Notwithstanding any restriction contained in any other law,...
Section 129.273 - Dissolution of Authority. - Sec. 13. The authority may be dissolved by act of...
Section 129.274 - Construction of Act. - Sec. 14. This act and all powers granted hereby shall...
Section 129.275 - Availability of Funds. - Sec. 15. Subject to any agreements with bondholders, the authority...
Section 129.276 - Report. - Sec. 16. The authority shall submit an annual report no...
Section 129.277 - Appropriation. - Sec. 17. (1) One million dollars is appropriated from the...
Section 129.278 - Legal Jurisdiction. - Sec. 18. Except as otherwise provided in this section, any...
Section 129.279 - Severability. - Sec. 19. This act is declared to be severable. If...