Section 141.1076 – Severability.
141.1076 Severability. Sec. 26. If a section, subsection, subdivision, clause, or provision of this act is adjudged unconstitutional or is ineffective, the remainder of this act shall be valid and effective. Any other section, subsection, subdivision, clause, or provision of this act shall not on account of that judgment be considered invalid or ineffective and […]
Section 141.1065a – Repealed. 1990, Act 281, Imd. Eff. Dec. 13, 1990.
141.1065a Repealed. 1990, Act 281, Imd. Eff. Dec. 13, 1990. Compiler’s Notes: The repealed section provided a limitation on outstanding bonds.
Section 141.1066 – Reserve Funds.
141.1066 Reserve funds. Sec. 16. (1) The authority may create and establish 1 or more special funds as reserve funds. The authority shall pay into each reserve fund money appropriated and made available by this state for the purpose of that reserve fund, proceeds of the sale of bonds or notes to the extent provided […]
Section 141.1066a – State Water Pollution Control Revolving Fund; Establishment; Compliance; Funding; Assistance to Governmental Unit; Loan Agreement; Determination of Eligible Projects; Maximum Amount of Municipal Obligation; Maximum Interest Rate.
141.1066a State water pollution control revolving fund; establishment; compliance; funding; assistance to governmental unit; loan agreement; determination of eligible projects; maximum amount of municipal obligation; maximum interest rate. Sec. 16a. The authority shall establish a state water pollution control revolving fund that complies with the requirements and objectives of the federal water pollution control act. […]
Section 141.1053 – Definitions.
141.1053 Definitions. Sec. 3. As used in this act: (a) “Authority” means the Michigan finance authority created by Executive Reorganization Order No. 2010-2, MCL 12.194. (b) “Board” means the board of directors of the authority. (c) “Bonds” means bonds of the authority issued under this act with a maturity greater than 3 years. (d) “Capitalization […]
Section 141.1066b – State Drinking Water Revolving Fund.
141.1066b State drinking water revolving fund. Sec. 16b. The authority shall establish a state drinking water revolving fund that complies with the requirements and objectives of the federal safe drinking water act. The authority shall establish accounts and subaccounts within the state drinking water revolving fund as it determines is necessary or appropriate to operate […]
Section 141.1054 – Michigan Municipal Bond Authority; Created; Powers; Funds.
141.1054 Michigan municipal bond authority; created; powers; funds. Sec. 4. The Michigan municipal bond authority is created as a body corporate, separate and distinct from the state. The authority may sue and be sued, plead and be impleaded, contract and be contracted with, have a corporate seal, and enjoy and carry out all powers granted […]
Section 141.1066c – School Loan Revolving Fund.
141.1066c School loan revolving fund. Sec. 16c. The authority shall establish a school loan revolving fund and shall establish accounts and subaccounts with the school loan revolving fund as it determines is necessary or appropriate to operate the school loan revolving fund. The authority may fund the school loan revolving fund with proceeds of bonds […]
Section 141.1055 – Board of Trustees; Appointment, Qualifications, and Terms of Members; Duties; Oath; Vacancy; Organization; Rules of Procedure; Conducting Business at Public Meetings; Notice; Quorum; Action of Board; Designation of Representative.
141.1055 Board of trustees; appointment, qualifications, and terms of members; duties; oath; vacancy; organization; rules of procedure; conducting business at public meetings; notice; quorum; action of board; designation of representative. Sec. 5. (1) The authority shall be governed by a board of trustees consisting of the state treasurer, 2 appointees of the governor to serve […]
Section 141.1066d – Grant Agreements Entered Under MCL 324.5204a.
141.1066d Grant agreements entered under MCL 324.5204a. Sec. 16d. (1) In addition to any other authority granted under law, each governmental unit may enter into grant agreements under section 5204a of the natural resources and environmental protection act, 1994 PA 451, MCL 324.5204a, and may pledge its limited taxing power as security for any repayment […]