Section 12.61 – Purpose of Act; “Obligations” Defined.
12.61 Purpose of act; “obligations” defined. Sec. 1. The purpose of this act is to provide for the payment of the principal of and interest on obligations of this state issued pursuant to section 14, 15, or 16 of article 9 of the state constitution of 1963, which are full faith and credit obligations of […]
Section 12.62 – Payment of Principal and Interest on Obligations of State; Duties of State Treasurer.
12.62 Payment of principal and interest on obligations of state; duties of state treasurer. Sec. 2. It shall be the duty of the state treasurer to pay or cause to be paid the principal of and interest on all obligations of this state as the same become due from any money or revenue pledged therefor […]
Section 12.63 – Enforcing Duties of State Treasurer by Action to Require Performance.
12.63 Enforcing duties of state treasurer by action to require performance. Sec. 3. In addition to any other remedies provided by law to the holder of any obligation, the duties of the state treasurer under this act may be enforced by the holder of the evidence of any obligation by an action to require performance […]
Section 12.64 – Act as Contract With Holders of Obligations.
12.64 Act as contract with holders of obligations. Sec. 4. This act shall be deemed a contract with the holders from time to time of obligations of this state. History: 1982, Act 259, Imd. Eff. Sept. 30, 1982