Sec. 11.
The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of the project authorized by this act will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon the project or any property acquired or used by the authority under the provisions of this act or upon the income therefrom, and any bonds issued under the provisions of this act, their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the state.
History: 1954, Act 99, Imd. Eff. Apr. 12, 1954
Structure Michigan Compiled Laws
Act 99 of 1954 - International Bridge Authority (254.221 - 254.240)
Section 254.221 - International Bridge Authority; Definitions.
Section 254.222 - Revenue Bonds; Statement, Expenses.
Section 254.223 - International Bridge Authority; Powers and Duties; Value of Assets; Efficiencies.
Section 254.223a - Expenditure From Bridge Revenues; Purposes; Payment.
Section 254.228 - Trust Funds; Depository Acting as Trustee.
Section 254.229 - Trust Agreement or Resolution; Enforcement.
Section 254.230 - Bonds; Negotiable Instruments.
Section 254.231 - Purpose of Project; Taxation.
Section 254.232 - Bonds Made Securities.
Section 254.233 - Revenue Refunding Bonds; Purpose, Regulation.
Section 254.234 - Vehicular Traffic Facilities; Covenant With Bondholders; Limitations.
Section 254.237 - Powers; Supplemental and Additional.
Section 254.238 - Construction of Act.
Section 254.239 - Repealed. 2000, Act No. 243, Imd. Eff. June 29, 2000.