Sec. 14.
The members of the board or any person executing the notes or bonds under this act are not liable personally on the notes or bonds or subject to any personal liability or accountability by reason of the issuance of the notes or bonds.
History: 2002, Act 49, Imd. Eff. Mar. 14, 2002 Compiler's Notes: For transfer of powers and duties of Michigan broadband development authority from department of treasury to department of labor and economic growth by Type I transfer, see E.R.O. No. 2003-1, compiled at MCL 445.2011.
Structure Michigan Compiled Laws
Chapter 484 - Telephone, Telegraph, and Radio
Act 49 of 2002 - Michigan Broadband Development Authority Act (484.3201 - 484.3225)
Section 484.3201 - Short Title.
Section 484.3202 - Legislative Findings.
Section 484.3203 - Definitions.
Section 484.3204 - Michigan Broadband Development Authority; Creation; Duties.
Section 484.3207 - Powers of Authority.
Section 484.3210 - Notes and Bonds; Issuance, Renewal, and Refund by Authority.
Section 484.3211 - Notes and Bonds; Issuance by Resolution; Form and Terms; Sale; Prices.
Section 484.3212 - Notes or Bonds; Contents of Resolutions.
Section 484.3213 - Money or Property Pledged and Received by Authority.
Section 484.3214 - Notes or Bonds; Personal Liability.
Section 484.3215 - Notes or Bonds; Power of Authority to Purchase.
Section 484.3217 - Notes or Bonds as Limited Obligations.
Section 484.3219 - Disposition of Money Held by Authority.
Section 484.3220 - Notes and Bonds as Securities; Investment.
Section 484.3221 - Full Faith and Credit Bonds; Issuance; Vote.
Section 484.3222 - Notes and Bonds; Exemption From Tax.
Section 484.3223 - Property; Exemption From Tax.
Section 484.3224 - Annual Report.
Section 484.3225 - New Partnerships or Joint Ventures; Limitation.