Sec. 74111.
The commission may issue bonds for the purpose of refunding any obligations issued under this part, or may authorize a single issue of bonds in part for the purpose of refunding such obligations and in part for the purpose of financing any additional cost of land or improvement program. Bonds issued under this section are payable only from state park revenues and may be sold in the manner provided for the sale of bonds in this part. If sold, that portion of the proceeds representing the refunding portion may be either applied to the payment of the obligations refunded or deposited in escrow for their retirement.
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Section 324.74109 - Repealed. 2003, Act 170, Eff.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Section 324.74123 - Repealed. 2010, Act 32, Eff.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.