Sec. 74110.
Any bond issued under this part shall state that it is not a general obligation of the state of Michigan, but is a revenue bond payable only from state park revenues. Nothing in this part authorizes the state to incur debt contrary to the constitution or laws of the state. The holders of the bonds shall not have the right to compel a sale of any real estate or personal property of the state parks, nor shall the holders of the bonds have any lien, mortgage, or other encumbrances upon any property of the state of Michigan, real, personal, or mixed. Bonds shall be fully negotiable within the meaning of the negotiable instruments law of this state.
History: Add. 1995, Act 58, Imd. Eff. May 24, 1995 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 III - Natural Resources Management (324.30101...324.83109)
451-1994-III-4 - Chapter 4 Recreation (324.70101...324.83109)
451-1994-III-4-2 - Subchapter 2 Parks (324.74101...324.76118)
451-1994-III-4-2-PARKS - Parks (324.74101...324.75106)
451-1994-III-4-2-PARKS-741 - Part 741 State Parks System (324.74101...324.74126)
Section 324.74101 - Definitions.
Section 324.74102 - Legislative Findings; Duties of Department.
Section 324.74102a - Duties of Commission; Report.
Section 324.74103 - Powers of Department; Land Acquisition and Improvement Program.
Section 324.74103a - Shooting Range; Posting Hours of Operation.
Section 324.74104 - “Adopt-a-Park” Program.
Section 324.74106 - Revenue Bonds; Issuance; Amount; Notice; Includable Costs; Resolution.
Section 324.74107 - Authority of Department.
Section 324.74108 - Resolution Authorizing Issuance of Bonds; Contents.
Section 324.74109 - Repealed. 2003, Act 170, Eff. Jan. 1, 2004.
Section 324.74110 - Revenue Bonds; State Debt; Extent of Liability.
Section 324.74111 - Revenue Bonds; Refunding Issue.
Section 324.74114 - Fees; Establishment; Collection; Deposit.
Section 324.74115 - Free Entry of Motor Vehicles Into Posted Park Prohibited.
Section 324.74118 - Park Permits; Monthly Accounting; Compensation; Report.
Section 324.74119 - Michigan State Parks Endowment Fund.
Section 324.74121 - State Parks; Prohibited Conduct.
Section 324.74122 - Violation; Presumption; Penalty.
Section 324.74123 - Repealed. 2010, Act 32, Eff. Oct. 1, 2010.