Section 129.278 – Legal Jurisdiction.
129.278 Legal jurisdiction. Sec. 18. Except as otherwise provided in this section, any legal action against the authority shall be brought in the Michigan court of appeals, which shall have exclusive jurisdiction. However, any legal actions against the authority seeking money damages shall be brought in the Michigan court of claims, which shall have exclusive […]
Section 129.210 – Application of Statute.
129.210 Application of statute. Sec. 10. This act shall not apply to any contract awarded pursuant to an invitation for bids issued on or before the effective date hereof, or to any person or bonds in respect to any such contract. The rights, duties, and obligations of parties arising under, or incidental to, bonds executed […]
Section 129.263 – Definitions.
129.263 Definitions. Sec. 3. As used in this act: (a) “Ancillary facility” means any revolving credit agreement, agreement establishing a line of credit or letter of credit, reimbursement agreement, interest rate exchange or similar agreement, currency exchange agreement, interest rate floor or cap, options, puts or calls to hedge payment, currency, rate, spread or similar […]
Section 129.211 – Repeal; Restriction on Other Statute.
129.211 Repeal; restriction on other statute. Sec. 11. Section 64 of Act No. 59 of the Public Acts of 1915, as amended, being section 247.464 of the Compiled Laws of 1948 is repealed. The provisions of Act No. 187 of the Public Acts of 1905, as amended, being sections 570.101 to 570.105 of the Compiled […]
Section 129.264 – Michigan Tobacco Settlement Finance Authority; Creation; Separate Legal Entity; Issuance of Bonds Generally.
129.264 Michigan tobacco settlement finance authority; creation; separate legal entity; issuance of bonds generally. Sec. 4. (1) The Michigan tobacco settlement finance authority is created as a public body corporate and politic within the department of treasury. The authority is a state institution within the meaning of section 9 of article II of the state […]
Section 129.212 – Act Inapplicable to Contracts Awarded Under MCL 280.1 to 280.630.
129.212 Act inapplicable to contracts awarded under MCL 280.1 to 280.630. Sec. 12. This act does not apply to a contract awarded under the drain code of 1956, Act No. 40 of the Public Acts of 1956, being sections 280.1 to 280.630 of the Michigan Compiled Laws. History: Add. 1989, Act 62, Imd. Eff. June […]
Section 129.265 – Authority; Duties; Administrative Functions.
129.265 Authority; duties; administrative functions. Sec. 5. The authority shall exercise its duties independently of the state treasurer. The staffing, budgeting, procurement, and related administrative functions of the authority shall be performed under the direction and supervision of the state treasurer. History: 2005, Act 226, Imd. Eff. Nov. 21, 2005
Section 129.221 – Definitions.
129.221 Definitions. Sec. 1. As used in this act: (a) “Credit card” means a card or device issued by a person licensed under 1984 PA 379, MCL 493.101 to 493.114, or under the consumer financial services act, 1988 PA 161, MCL 487.2051 to 487.2072, or issued by a depository financial institution as defined in section […]
Section 129.222 – Acceptance of Payment by Financial Transaction; Prohibition.
129.222 Acceptance of payment by financial transaction; prohibition. Sec. 2. A local unit shall not accept a payment by financial transaction device if prohibited by law or charter. A local unit shall not accept a payment by financial transaction device more than 6 months after the effective date of this act unless it complies with […]
Section 129.223 – Adoption of Resolution; Determination of Acceptable Financial Transaction Devices.
129.223 Adoption of resolution; determination of acceptable financial transaction devices. Sec. 3. (1) Before a local unit accepts a payment by financial transaction device for a tax, assessment, or fee, the governing body of the local unit shall adopt a resolution authorizing the acceptance of payments by financial transaction devices. The resolution shall designate the […]