Sec. 19604.
The bonds shall be fully negotiable under the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102. The bonds and the interest on the bonds shall be exempt from all taxation by the state or any political subdivision of the state.
History: Add. 1998, Act 288, Eff. Dec. 1, 1998 Popular Name: Act 451Popular Name: NREPA
Structure Michigan Compiled Laws
Chapter 324 - Natural Resources and Environmental Protection
Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106)
Article II - Pollution Control (324.3101...324.21563)
451-1994-II-6 - Chapter 6 Environmental Funding (324.19101...324.19708)
451-1994-II-6-196 - Part 196 Clean Michigan Initiative Implementation (324.19601...324.19616)
Section 324.19601 - Definitions.
Section 324.19602 - Findings and Declaration.
Section 324.19604 - Bonds as Negotiable and Exempt From Taxation.
Section 324.19605 - Bonds as Securities; Investment of Funds.
Section 324.19608a - Clean Michigan Initiative Grant and Revolving Loan Program.
Section 324.19608b - Grants and Loans Under MCL 324.19608(1)(a)(iv); Conditions.
Section 324.19609 - Grant or Loan Application; Form or Format; Funds Under MCL 324.19608(1)(a)(iv).
Section 324.19610a - Funding Provided Under MCL 324.19608(1)(iv); Conditions.
Section 324.19611 - Balancing Distribution of Grants and Loans; Considerations.
Section 324.19613 - Grants and Loans Under MCL 324.19608; Conditions.
Section 324.19614 - Recovery of Costs.