Michigan Compiled Laws
451-1994-II-1-SEWAGE-DISPOSAL-AND-WATERWORKS-SYSTEMS-45 - Part 45 Bonds for Prevention and Abatement of Water Pollution (324.4501...324.4511)
Section 324.4506 - Bonds; Negotiability; Tax Exempt.

Sec. 4506.
Bonds issued under this part are fully negotiable under the uniform commercial code, Act No. 174 of the Public Acts of 1962, being sections 440.1101 to 440.11102 of the Michigan Compiled Laws, and the bonds and the interest on the bonds are exempt from all taxation by the state or any of its political subdivisions.
History: Add. 1995, Act 60, Imd. Eff. May 24, 1995 Popular Name: Act 451Popular Name: NREPA

Structure Michigan Compiled Laws