Sec. 4.
Refunding bonds issued under this act shall be deemed to be negotiable instruments under the laws of the state, and the principal of and interest on the bonds is not subject to taxation by the state or any taxing authority therein.
History: 1966, Act 13, Imd. Eff. Apr. 6, 1966
Structure Michigan Compiled Laws
Section 254.361 - Refunding Bonds; Issuance, Purpose.
Section 254.363 - Refunding Bonds; Issuance and Sale, Terms and Conditions.
Section 254.364 - Refunding Bonds; Negotiability and Tax Exemption.
Section 254.365 - Refunding Bonds; Execution, Officers, Manner.
Section 254.366 - Issuance and Sale of Refunding Bonds; Approval of Board, Commission or Agency.
Section 254.367 - Public Sale; Terms and Conditions; Disposition of Proceeds.
Section 254.368 - Powers of Commission.
Section 254.369 - Repealed. 2005, Act 329, Imd. Eff. Dec. 28, 2005
Section 254.370 - Fixing of Tolls, Fees, Rents, and Charges; Commission Powers, Legislative Intent.
Section 254.371 - Operation of Bridge as Part of State Highway System; Expenses, Tolls and Fees.
Section 254.372 - Employees of Authority; Transfer to Commission, Credit for Time.