Sec. 27.
The notes and bonds of the authority are securities in which the public officers and bodies of this state, municipalities, and municipal subdivisions, insurance companies, associations, and other persons carrying on an insurance business, banks, trust companies, savings banks and savings associations, savings and loan associations, investment companies, and administrators, guardians, executors, trustees, and other fiduciaries, and all other persons who are authorized to invest in bonds or other obligations of the state may properly and legally invest funds.
History: 1986, Act 196, Imd. Eff. July 10, 1986
Structure Michigan Compiled Laws
Act 196 of 1986 - Public Transportation Authority Act (124.451 - 124.479)
Section 124.451 - Short Title.
Section 124.452 - Definitions.
Section 124.454 - Public Authority; Formation by Political Subdivision; Articles of Incorporation.
Section 124.456 - Articles of Incorporation; Contents.
Section 124.459 - Tax Limitations.
Section 124.460 - Validation and Ratification of Acts Taken Before Effective Date of Act.
Section 124.463 - Additional Powers of Public Authority.
Section 124.464 - Additional Powers of Public Authority.
Section 124.465 - Collective Bargaining Agreements; Employees Entering Military Service.
Section 124.466 - Exemption of Public Authority From Certain Acts in Exercise of Powers.
Section 124.467 - Public Transportation Service; Financing.
Section 124.468 - Tax Levy; Collection.
Section 124.469 - Additional Tax Levy.
Section 124.471 - Duties of Public Authority.
Section 124.472 - Notes and Bonds Generally.
Section 124.476 - Investments; Use of Investment Income.
Section 124.477 - Notes and Bonds as Securities.
Section 124.478 - Validation and Ratification of Prior Acts.