Section 830.421 – Exemption From Taxation.
830.421 Exemption from taxation. Sec. 11. Property owned and acquired by the building authority in accordance with this act shall be exempt from taxes levied by the state or its political subdivisions and taxing districts. The building authority shall not be required to pay taxes or assessments upon its activities or upon its income or […]
Section 830.421a – Liability on Notes or Bonds.
830.421a Liability on notes or bonds. Sec. 11a. The members of the authority and persons executing notes or bonds shall not be liable personally on the notes or bonds, or be subject to personal liability or accountability by reason of the issuance thereof. History: Add. 1976, Act 240, Eff. Mar. 31, 1977 Compiler’s Notes: For […]
Section 830.422 – Investment in Bonds.
830.422 Investment in bonds. 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, […]
Section 830.423 – Declaration of Public Purpose; Liberal Construction.
830.423 Declaration of public purpose; liberal construction. Sec. 13. It is hereby found, determined, and declared that the creation of the building authority and the carrying out of its corporate purposes are in all respects for the benefit of the people of the state and constitute a public purpose and that the facilities to be […]
Section 830.424 – Act Supplemental and Additional to Existing Powers.
830.424 Act supplemental and additional to existing powers. Sec. 14. This act shall be deemed to provide an additional or alternative method for accomplishing the purposes authorized hereby. This act shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any powers presently […]
Section 830.425 – Advisory Opinion as to Constitutionality.
830.425 Advisory opinion as to constitutionality. Sec. 15. Pursuant to section 8 of article 3 of the state constitution of 1963, it is the intent of the legislature to request by concurrent resolution the opinion of the supreme court as to the constitutionality of this 1976 amendatory act as amended. Notwithstanding section 5 of chapter […]
Repealed – Act 242 of 1976 – Preliminary Studies and Planning of Proposed Building Projects (830.501 – 830.505)
PRELIMINARY STUDIES AND PLANNING OF PROPOSED BUILDING PROJECTSAct 242 of 1976830.501-830.505 Repealed. 1984, Act 431, Eff. Mar. 29, 1985.
Section 830.419 – Obligations; Statutory First Lien; Enforcement.
830.419 Obligations; statutory first lien; enforcement. Sec. 9. A board resolution authorizing the issuance of an obligation, or an agreement relating to the security of the obligation or agreement to manage payment, revenue, or interest rate exposure with respect to the obligation, may assign, pledge, and create a statutory first lien, and 1 or more […]
Section 830.419a – Moneys of Building Authority; Contract With Bondholders; Security for Deposits.
830.419a Moneys of building authority; contract with bondholders; security for deposits. Sec. 9a. The building authority may contract with the holders of its bonds as to the custody, collection, securing, investment, and payment of any moneys of the building authority. Moneys of the building authority and deposits of such moneys may be secured in the […]
Section 830.420 – Indebtedness of State.
830.420 Indebtedness of state. Sec. 10. This act shall not be construed or interpreted as to authorize or permit the incurring of indebtedness of the state contrary to the provisions of the state constitution. History: 1964, Act 183, Imd. Eff. May 19, 1964 ;– Am. 1976, Act 240, Eff. Mar. 31, 1977 Compiler’s Notes: For […]