Sec. 12.
Bonds issued by the authority under the provisions of this act are hereby made securities in which all banks, bankers, savings banks, trust companies, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries may properly and legally invest any funds, including capital belonging to them or within their control.
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Section 254.239 - Repealed. 2000, Act No. 243, Imd.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.