Sec. 12.
Bonds issued by the building authority under this act are securities in which banks, bankers, savings banks, trust companies, savings and loan associations, investment companies, and other persons carrying on a banking business, insurance companies, insurance associations, and other persons carrying on an insurance business, and administrators, executors, guardians, trustees, and other fiduciaries may properly and legally invest funds belonging to them or within their control.
History: 1964, Act 183, Imd. Eff. May 19, 1964 ;-- Am. 1976, Act 240, Eff. Mar. 31, 1977 Compiler's Notes: For transfer of state building authority from department of technology, management, and budget to department of treasury, see E.R.O. No. 2013-3, compiled at MCL 125.1393.
Structure Michigan Compiled Laws
Chapter 830 - State Building Programs
Act 183 of 1964 - State Building Authority (830.411 - 830.425)
Section 830.411 - Definitions.
Section 830.411a - Legislative Findings.
Section 830.413 - Powers of Building Authority Generally.
Section 830.414 - Acquisition of Property; Condemnation.
Section 830.416 - Lease of Facilities to State; Term; Provisions.
Section 830.418 - Revenue Obligations Generally.
Section 830.418a - Reserve Fund; Creation; Purpose; Use of Income and Interest.
Section 830.419 - Obligations; Statutory First Lien; Enforcement.
Section 830.419a - Moneys of Building Authority; Contract With Bondholders; Security for Deposits.
Section 830.420 - Indebtedness of State.
Section 830.421 - Exemption From Taxation.
Section 830.421a - Liability on Notes or Bonds.
Section 830.422 - Investment in Bonds.
Section 830.423 - Declaration of Public Purpose; Liberal Construction.
Section 830.424 - Act Supplemental and Additional to Existing Powers.