Michigan Compiled Laws
Act 266 of 1967 - State Indebtedness (17.451 - 17.455)
Section 17.455 - Notes and Interest Exempt From Taxation.

Sec. 5.
Notes issued under this act before or after the effective date of this section and the interest on those notes shall be exempt from all taxation by the state or political subdivisions of the state.
History: Add. 1982, Act 196, Imd. Eff. June 30, 1982

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 17 - State Administrative Board

Act 266 of 1967 - State Indebtedness (17.451 - 17.455)

Section 17.451 - Borrowing Money and Issuing Notes in Anticipation of Undedicated Revenues; Purpose.

Section 17.452 - Aggregate Principal Amount of Outstanding Notes; Limitation; Repayment of Indebtedness; Pledge and Deposit of Undedicated Revenues; Validity of Pledge; Transactions to Provide Security; Costs and Fees; Authorization of State Treasure...

Section 17.453 - Payment of Notes; Interest; Discount; Execution and Sale of Notes and Coupons; Authentication; Commercial Paper Dealer Agreements; Signature of Former State Treasurer.

Section 17.454 - Use of Proceeds of Loan Restricted; Revised Municipal Finance Act Inapplicable; Issuance of Bonds and Notes Subject to Agency Financing Reporting Act.

Section 17.455 - Notes and Interest Exempt From Taxation.