Michigan Compiled Laws
Chapter 484 - Telephone, Telegraph, and Radio
Act 49 of 2002 - Michigan Broadband Development Authority Act (484.3201 - 484.3225)

Section 484.3201 - Short Title. - Sec. 1. This act shall be known and may be...

Section 484.3202 - Legislative Findings. - Sec. 2. The legislature finds that certain areas of this...

Section 484.3203 - Definitions. - Sec. 3. As used in this act: (a) "Authority" means...

Section 484.3204 - Michigan Broadband Development Authority; Creation; Duties. - Sec. 4. (1) The Michigan broadband development authority is created...

Section 484.3205 - Administrative Functions; Performance Under Direction and Supervision of State Treasurer. - Sec. 5. The authority shall exercise its duties independently of...

Section 484.3206 - Board of Directors; Membership; Service of Representative in Member's Absence; Compensation; Chairperson; Officers; Quorum; Voting; Open Meetings Act; Confidentiality; “Trade Secrets, Commercial, Financial, or Proprietary Informati... - Sec. 6. (1) The authority shall exercise its duties through...

Section 484.3207 - Powers of Authority. - Sec. 7. (1) The powers of the authority shall include...

Section 484.3208 - Reserve Capital Account; Creation; Administration; Credit of Proceeds From Sale of Notes or Bonds; Capital Reserve Fund; Creation; Use; Security Arrangements; Transfer of Income or Interest Earned. - Sec. 8. (1) A reserve capital account is created under...

Section 484.3209 - Capital Reserve Fund; Amount; Deficiency; Restoration; Liability of State for Notes or Bonds. - Sec. 9. (1) The authority shall accumulate in a capital...

Section 484.3210 - Notes and Bonds; Issuance, Renewal, and Refund by Authority. - Sec. 10. (1) The authority may issue notes and bonds...

Section 484.3211 - Notes and Bonds; Issuance by Resolution; Form and Terms; Sale; Prices. - Sec. 11. (1) The notes and bonds shall be authorized...

Section 484.3212 - Notes or Bonds; Contents of Resolutions. - Sec. 12. A resolution relating to authorizing notes or bonds...

Section 484.3213 - Money or Property Pledged and Received by Authority. - Sec. 13. (1) Any pledge made by the authority is...

Section 484.3214 - Notes or Bonds; Personal Liability. - Sec. 14. The members of the board or any person...

Section 484.3215 - Notes or Bonds; Power of Authority to Purchase. - Sec. 15. Subject to any agreements with noteholders or bondholders,...

Section 484.3216 - Rights of Authority to Fulfill Terms of Agreement Not Limited, Altered, or Impaired. - Sec. 16. This state pledges and agrees with the holders...

Section 484.3217 - Notes or Bonds as Limited Obligations. - Sec. 17. (1) The authority may issue notes or bonds...

Section 484.3218 - Default. - Sec. 18. (1) If the authority defaults in the payment...

Section 484.3219 - Disposition of Money Held by Authority. - Sec. 19. (1) Money of the authority shall be held...

Section 484.3220 - Notes and Bonds as Securities; Investment. - Sec. 20. The notes and bonds of the authority are...

Section 484.3221 - Full Faith and Credit Bonds; Issuance; Vote. - Sec. 21. The authority, at its discretion, may recommend an...

Section 484.3222 - Notes and Bonds; Exemption From Tax. - Sec. 22. This state covenants with the purchasers and all...

Section 484.3223 - Property; Exemption From Tax. - Sec. 23. The property of the authority and its income...

Section 484.3224 - Annual Report. - Sec. 24. The authority shall submit an annual report no...

Section 484.3225 - New Partnerships or Joint Ventures; Limitation. - Sec. 25. Except to the extent necessary to maintain, improve,...