Michigan Compiled Laws
Chapter 390 - Universities and Colleges
Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)

Section 390.921 - Higher Education Facilities Authority Act; Short Title. - Sec. 1. This act shall be known and may be...

Section 390.921a - Legislative Determination. - Sec. 1a. It is hereby determined that there exists in...

Section 390.922 - Definitions. - Sec. 2. As used in this act: (a) "Authority" means...

Section 390.923 - Michigan Higher Education Facilities Authority; Creation; Nature; Members; Exercise of Powers, Duties, and Functions. - Sec. 3. A public body corporate and politic is created...

Section 390.924 - Powers of Authority. - Sec. 4. The authority shall have the powers necessary to...

Section 390.925 - Loans to Educational Institutions for Acquisition, Construction, or Alteration of Educational Facilities; Conditions. - Sec. 5. (1) The authority may lend money or participate...

Section 390.925a - Loans to Educational Institutions for Refunding of Certain Outstanding Obligations; Conditions. - Sec. 5a. (1) The authority may lend money or participate...

Section 390.926 - Bonds. - Sec. 6. (1) The authority may issue its bonds in...

Section 390.927 - Pledge to Bondholders. - Sec. 7. The state pledges and agrees with the holders...

Section 390.928 - Bonds as Investment. - Sec. 8. The bonds of the authority are securities, in...

Section 390.929 - Payment and Deposit of Money; Contract; Security; Examination of Books and Accounts. - Sec. 9. (1) All money of the authority, except as...

Section 390.930 - Tax Exemption. - Sec. 10. The property of the authority and its income...

Section 390.931 - Bonds; Negotiability; Tax Exemption. - Sec. 11. Bonds issued under this act shall be fully...

Section 390.932 - Trustee; Appointment; Powers and Duties. - Sec. 12. (1) If the authority defaults in the payment...

Section 390.933 - Nondiscrimination Covenant. - Sec. 13. The authority shall require that use of educational...

Section 390.934 - Personal Liability as to Notes or Bonds. - Sec. 14. A member of the authority or a person...