Michigan Compiled Laws
38-1969-4 - Chapter 4 (331.71...331.84)
Section 331.73d - Refunding Bonds; Nonliability of State; Statement.

Sec. 43d.
The state shall not be liable on the refunding bonds of the state authority, and the bonds shall not be a debt of the state. Each bond shall contain on its face a statement to that effect. The state shall not be or become liable for a debt evidenced by the bonds or notes to be refunded as a result of the issuance of the refunding bonds.
History: Add. 1978, Act 277, Imd. Eff. July 3, 1978

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 331 - Hospitals

Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)

38-1969-4 - Chapter 4 (331.71...331.84)

Section 331.71 - Applicability of Chapter.

Section 331.72 - Bonds and Notes; Authorization; Type; Payment; Interest; Denominations; Form; Registration Privileges; Execution; Redemption; Sale; Revised Municipal Finance Act Inapplicable; Bonds and Notes Subject to Agency Financing Reporting Act...

Section 331.72a - Bond Reserve Fund; Creation; Payment Into Fund; Funding; Discretion of Authority; Uses.

Section 331.73 - Pledges and Liens; Validity; Recording.

Section 331.73a - Refunding Bonds; Issuance; Purposes.

Section 331.73b - Refunding Bonds; Resolution; Plan of Refunding; Determination; Designation of Bonds.

Section 331.73c - Refunding Bonds Issued by State Authority; Payment of Principal, Interest, and Redemption Premiums; Sources; Loan Agreement.

Section 331.73d - Refunding Bonds; Nonliability of State; Statement.

Section 331.73e - Refunding Bonds Issued by Local Authority; Payment of Principal, Interest, and Redemption Premiums; Sources; Loan Agreement; Bond, Coupon, or Indebtedness Not General Obligation or Debt.

Section 331.73f - Use of Proceeds of Refunding Bonds and of Earnings or Profits on Proceeds; Resolution.

Section 331.73g - State Treasurer or Financial Institution as Trustee for Proceeds of Refunding Bonds, Other Funds, and Investment Earnings and Profits; Purposes; Trust Agreement; Investment of Proceeds; Defeasance.

Section 331.74 - Authority Members; Persons Executing Notes or Bonds; Personal Liability.

Section 331.75 - Bond or Note Holders; Vested Rights, Impairment.

Section 331.76 - Repealed. 2002, Act 436, Imd. Eff. June 10, 2002.

Section 331.77 - Certificate of Need Required; Exception.

Section 331.77a - Bonds to Refinance Indebtedness or Refund Obligations as to Facilities Located Outside State; Determination.

Section 331.77b - Resolution Authorizing Issuance of Bonds or Notes; Determination and Consideration of Conditions.

Section 331.78 - Bonds or Notes; Negotiability.

Section 331.79 - Bonds and Notes; Legal Investments.

Section 331.80 - Tax Exemption.

Section 331.81 - Bonds and Notes; Tax Exemption, Exception.

Section 331.82 - Nondiscrimination Provision.

Section 331.83 - Construction of Act as to Powers Conferred; Purpose and Intention.

Section 331.84 - Declaration of Necessity; Liberal Construction.