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Section 141.1051 - Legislative Findings and Declarations. - Sec. 1. The legislature finds and declares the following: (a)...
Section 141.1052 - Short Title. - Sec. 2. This act shall be known and may be...
Section 141.1053 - Definitions. - Sec. 3. As used in this act: (a) "Authority" means...
Section 141.1054 - Michigan Municipal Bond Authority; Created; Powers; Funds. - Sec. 4. The Michigan municipal bond authority is created as...
Section 141.1055 - Board of Trustees; Appointment, Qualifications, and Terms of Members; Duties; Oath; Vacancy; Organization; Rules of Procedure; Conducting Business at Public Meetings; Notice; Quorum; Action of Board; Designation of Representative. - Sec. 5. (1) The authority shall be governed by a...
Section 141.1056 - Chairperson; Employment, Qualifications, Duties, and Compensation of Personnel; Delegation of Powers and Duties; Exercise of Powers, Duties, and Functions; Budgeting, Procurement, and Related Functions; Costs; Report; Annual Audit. - Sec. 6. (1) The state treasurer is the chairperson of...
Section 141.1057 - Powers of Board Generally. - Sec. 7. The board has all of the following powers:...
Section 141.1058 - Purchase of Municipal Obligations by Authority; Bonds or Notes of Authority; Expenses; Preferential Treatment in Rate of Interest; Forgiving or Relinquishing Interest or Principal of Obligation; Purchase of Qualified Bonds of Schoo... - Sec. 8. (1) The authority may lend money to a...
Section 141.1059 - Bonds or Notes of Authority; Purposes; Payment; Security; Authorization; Requirements; Validity of Signature; Sale; Revised Municipal Finance Act Inapplicable; Issuance of Bonds Subject to Agency Financing Reporting Act; Interest R... - Sec. 9. (1) The authority may issue from time to...
Section 141.1060 - Retirement, Funding, or Refunding of Notes. - Sec. 10. The authority may from time to time issue...
Section 141.1061 - Bonds or Notes to Refund Bonds or Notes. - Sec. 11. (1) The authority may provide for the issuance...
Section 141.1062 - Security Transactions; Authorization and Approval. - Sec. 12. (1) The authority may authorize and approve an...
Section 141.1063 - Authority of Member, Executive Director, or Other Personnel as to Notes, Bonds, and Investments. - Sec. 13. Within limitations that are stated in the issuance...
Section 141.1064 - Powers Constituting Covenants by Authority and Contracts With Holders of Bond or Note. - Sec. 14. If provided in a resolution of the authority...
Section 141.1065 - Pledge of Revenues or Other Money; Lien of Pledge; Payment Assigned or Pledged to Authority to Be Held in Trust for Payment of Principal and Interest; Payment Subject to Lien; Nature of Lien; Filing or Recordation Not Required. - Sec. 15. (1) A pledge of revenues or other money...
Section 141.1065a - Repealed. 1990, Act 281, Imd. Eff. Dec. 13, 1990. - Compiler's Notes: The repealed section provided a limitation on outstanding...
Section 141.1066 - Reserve Funds. - Sec. 16. (1) The authority may create and establish 1...
Section 141.1066a - State Water Pollution Control Revolving Fund; Establishment; Compliance; Funding; Assistance to Governmental Unit; Loan Agreement; Determination of Eligible Projects; Maximum Amount of Municipal Obligation; Maximum Interest Rate. - Sec. 16a. The authority shall establish a state water pollution...
Section 141.1066b - State Drinking Water Revolving Fund. - Sec. 16b. The authority shall establish a state drinking water...
Section 141.1066c - School Loan Revolving Fund. - Sec. 16c. The authority shall establish a school loan revolving...
Section 141.1066d - Grant Agreements Entered Under MCL 324.5204a. - Sec. 16d. (1) In addition to any other authority granted...
Section 141.1067 - Default or Noncompliance by Authority. - Sec. 17. (1) If the authority defaults in the payment...
Section 141.1068 - Liability on Bonds or Notes. - Sec. 18. Neither the members of the authority nor any...
Section 141.1069 - Purchasing, Holding, Canceling, or Reselling Bonds or Notes of Authority. - Sec. 19. The authority may purchase bonds or notes of...
Section 141.1070 - State Pledge to and Agreement With Holders of Bonds or Notes. - Sec. 20. This state pledges to and agrees with the...
Section 141.1071 - Investment of Sinking Fund, Money, or Other Fund by Banking Business, Insurance Business, or Fiduciary in Bonds or Notes; Bonds or Notes as Security for Public Deposits. - Sec. 21. Notwithstanding any restriction contained in any other law,...
Section 141.1072 - Property and Income of Authority; Public Property; Public Purpose; Exemptions From Taxes and Special Assessments. - Sec. 22. Property of the authority is public property devoted...
Section 141.1073 - Municipal Obligations Generally. - Sec. 23. (1) A governmental unit may borrow money and...
Section 141.1074 - Agreement by Governmental Unit Upon Sale or Issuance of Municipal Obligations; Additional Powers of Authority. - Sec. 24. (1) Upon the sale and issuance of municipal...
Section 141.1075 - Construction of Act. - Sec. 25. (1) This act shall be construed liberally to...
Section 141.1076 - Severability. - Sec. 26. If a section, subsection, subdivision, clause, or provision...
Section 141.1077 - Repealed. 2000, Act 416, Imd. Eff. Jan. 8, 2001. - Compiler's Notes: The repealed section pertained to the issuance of...
Section 141.1078 - Repealed. 1996, Act 241, Imd. Eff. June 10, 1996. - Compiler's Notes: The repealed section pertained to contracts to invest...