Sec. 11.
Bonds issued under this act shall be fully negotiable under the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102, and the bonds and the interest thereon are exempt from all taxation by this state or any of its political subdivisions.
History: 1969, Act 295, Imd. Eff. Aug. 11, 1969 ;-- Am. 2000, Act 356, Eff. Mar. 28, 2001
Structure Michigan Compiled Laws
Chapter 390 - Universities and Colleges
Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)
Section 390.921 - Higher Education Facilities Authority Act; Short Title.
Section 390.921a - Legislative Determination.
Section 390.922 - Definitions.
Section 390.924 - Powers of Authority.
Section 390.927 - Pledge to Bondholders.
Section 390.928 - Bonds as Investment.
Section 390.930 - Tax Exemption.
Section 390.931 - Bonds; Negotiability; Tax Exemption.
Section 390.932 - Trustee; Appointment; Powers and Duties.