Section 254.364 – Refunding Bonds; Negotiability and Tax Exemption.
254.364 Refunding bonds; negotiability and tax exemption. Sec. 4. Refunding bonds issued under this act shall be deemed to be negotiable instruments under the laws of the state, and the principal of and interest on the bonds is not subject to taxation by the state or any taxing authority therein. History: 1966, Act 13, Imd. […]
Section 254.365 – Refunding Bonds; Execution, Officers, Manner.
254.365 Refunding bonds; execution, officers, manner. Sec. 5. The refunding bonds shall be executed for and on behalf of the state by the state treasurer and the secretary of state or their respective deputies. The right of a deputy to so act shall not be limited by any other statute specifying the circumstances under which […]
Section 254.366 – Issuance and Sale of Refunding Bonds; Approval of Board, Commission or Agency.
254.366 Issuance and sale of refunding bonds; approval of board, commission or agency. Sec. 6. In the issuance and sale of the refunding bonds, it shall not be necessary to secure the approval of any board, commission or agency of the state except as provided in this act. History: 1966, Act 13, Imd. Eff. Apr. […]
Section 254.367 – Public Sale; Terms and Conditions; Disposition of Proceeds.
254.367 Public sale; terms and conditions; disposition of proceeds. Sec. 7. The refunding bonds shall be sold at public sale upon such terms and conditions as shall be determined by the commission with the approval of the state administrative board. The proceeds from the sale of the bonds shall be made available for the redemption […]
Section 254.368 – Powers of Commission.
254.368 Powers of commission. Sec. 8. The commission may do all things necessary in connection with the issuance and sale of the refunding bonds and the retirement of the bonds to be refunded thereby, except to the extent that the retirement powers are now vested in the Mackinac bridge authority, and in that respect the […]
Section 254.369 – Repealed. 2005, Act 329, Imd. Eff. Dec. 28, 2005
254.369 Repealed. 2005, Act 329, Imd. Eff. Dec. 28, 2005 Compiler’s Notes: The repealed section pertained to transfer of operation of Mackinac bridge to state highway department.
Section 254.370 – Fixing of Tolls, Fees, Rents, and Charges; Commission Powers, Legislative Intent.
254.370 Fixing of tolls, fees, rents, and charges; commission powers, legislative intent. Sec. 10. The commission from time to time shall establish and fix tolls, fees, rents and charges for the use of the bridge and its services and facilities, the proceeds of collection thereof to be used: first, for expenses of operation and maintenance […]
Section 254.371 – Operation of Bridge as Part of State Highway System; Expenses, Tolls and Fees.
254.371 Operation of bridge as part of state highway system; expenses, tolls and fees. Sec. 11. At such time as the refunding bonds authorized by this act are retired in full, the Mackinac bridge shall be operated by the state highway department as a part of the state highway system and all expenses in connection […]
Section 254.372 – Employees of Authority; Transfer to Commission, Credit for Time.
254.372 Employees of authority; transfer to commission, credit for time. Sec. 12. All employees of the Mackinac bridge authority shall be given the opportunity to transfer to the commission and be given credit for time employed by the authority and the employees now employed by the Mackinac bridge authority shall be employed in the operation […]
Repealed – Act 57 of 1962 – Bridge Over Missaukee Lake (254.351 – 254.352)
BRIDGE OVER MISSAUKEE LAKEAct 57 of 1962254.351,254.352 Repealed. 2000, Act 132, Imd. Eff. June 1, 2000.