Section 12.292 – Legal Claims; Jurisdiction.
12.292 Legal claims; jurisdiction. Sec. 22. Except as otherwise provided in this section, any legal action against the authority shall be brought in the Michigan court of appeals, which has exclusive jurisdiction. However, any legal actions against the authority seeking money damages shall be brought in the court of claims for this state, which has […]
Section 12.293 – Creation, Perfection, Priority, and Enforcement of Pledge of Revenue or Other Security; Negotiability of Bonds.
12.293 Creation, perfection, priority, and enforcement of pledge of revenue or other security; negotiability of bonds. Sec. 23. (1) This act governs the creation, perfection, priority, and enforcement of any pledge of revenues or other security made by the authority under this act. Each pledge of the authority is valid and binding as of the […]
Section 12.294 – Bonds; Limitation.
12.294 Bonds; limitation. Sec. 24. Bonds issued under this act are limited to the principal amount necessary to satisfy this state’s obligations to the federal government for advances or loans from the federal account of the unemployment trust fund, to pay unemployment benefits before January 1, 2014, and to pay financing costs, reserves, coverage required […]
Section 12.257 – 21st Century Jobs Trust Fund; Establishment; Investment; Money Remaining at Close of Fiscal Year; Deposit of Interest and Earnings; Michigan Tobacco Settlement Revenue; Deposit.
12.257 21st century jobs trust fund; establishment; investment; money remaining at close of fiscal year; deposit of interest and earnings; Michigan tobacco settlement revenue; deposit. Sec. 7. (1) The 21st century jobs trust fund is established in the department of treasury. The 21st century jobs trust fund consists of donations of money made to the […]
Section 12.281 – Bonds Subject to Other Acts.
12.281 Bonds subject to other acts. Sec. 11. (1) A bond issued under this act is not subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. (2) A bond issued under this act is subject to the agency financing reporting act, 2002 PA 470, MCL 129.171 to 129.177. History: 2011, […]
Section 12.258 – Transfer and Disbursement of Funds; Purpose.
12.258 Transfer and disbursement of funds; purpose. Sec. 8. Upon request from the fund board as defined in section 88a of the Michigan strategic fund act, 1984 PA 270, MCL 125.2088a, the state treasurer shall transfer and disburse appropriated funds from the 21st century jobs trust fund only for the purpose of carrying out and […]
Section 12.259 – Michigan Merit Award Trust Fund; Establishment; Money Remaining at Close of Fiscal Year; Investment; Allocation of Tobacco Settlement Revenue.
12.259 Michigan merit award trust fund; establishment; money remaining at close of fiscal year; investment; allocation of tobacco settlement revenue. Sec. 9. (1) The Michigan merit award trust fund is established in the department of treasury. The Michigan merit award trust fund shall consist only of interest and earnings from Michigan merit award trust fund […]
Section 12.260 – Michigan Merit Award Trust Fund; Disbursement of Funds; Purpose.
12.260 Michigan merit award trust fund; disbursement of funds; purpose. Sec. 10. Upon appropriation, the state treasurer shall disburse funds from the Michigan merit award trust fund for 1 or more of the following purposes: (a) Michigan merit award scholarships under the Michigan merit award scholarship act, 1999 PA 94, MCL 390.1451 to 390.1459, or […]
Section 12.261 – Flint Settlement Trust Fund.
12.261 Flint settlement trust fund. Sec. 11. (1) The Flint settlement trust fund is created within the state treasury. The Flint settlement trust fund is established to address the consolidated cases known as In re Flint Water Cases, No. 5:16-cv-10444-JEL-MKM (ED Mich), in connection with the preliminary approval orders, any amendments to those orders, or […]
Section 12.262 – Community District Education Trust Fund; Creation; Deposit of Money or Other Assets; Investment; Money Remaining at Close of Fiscal Year; Expenditures; “Community District” Defined; Deposit of Tobacco Settlement Revenue; Limitation; Reimbursement From General Fund.
12.262 Community district education trust fund; creation; deposit of money or other assets; investment; money remaining at close of fiscal year; expenditures; “community district” defined; deposit of tobacco settlement revenue; limitation; reimbursement from general fund. Sec. 12. (1) The community district education trust fund is created within the state treasury. (2) The state treasurer may […]