Repealed – Act 57 of 1962 – Bridge Over Missaukee Lake (254.351 – 254.352)
BRIDGE OVER MISSAUKEE LAKEAct 57 of 1962254.351,254.352 Repealed. 2000, Act 132, Imd.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.
Section 254.332 – Expenditure of Funds for Construction of State Police Post; Lease Agreement; Payments; Expiration or Termination of Lease; Use.
254.332 Expenditure of funds for construction of state police post; lease agreement; payments; expiration or termination of lease; use. Sec. 22. (1) The authority may expend not more than $995,000.00 from funds under its jurisdiction to construct a building and lease it to the department of state police for use as a regional state police […]
Section 254.361 – Refunding Bonds; Issuance, Purpose.
254.361 Refunding bonds; issuance, purpose. Sec. 1. The state may borrow money and issue its refunding bonds for the purpose of refunding the following outstanding bonds issued by the Mackinac bridge authority, and agency and instrumentality of this state created by Act No. 21 of the Public Acts of the Extra Session of 1950, being […]
Section 254.362 – Refunding Bonds; Amount; Application of Funds, Pledge of State Credit, Appropriation.
254.362 Refunding bonds; amount; application of funds, pledge of state credit, appropriation. Sec. 2. The refunding bonds shall be issued in an amount sufficient to pay the costs of refunding of said outstanding bonds, which costs of refunding shall be deemed to include (a) the principal amount of the bonds to be refunded, (b) the […]
Section 254.363 – Refunding Bonds; Issuance and Sale, Terms and Conditions.
254.363 Refunding bonds; issuance and sale, terms and conditions. Sec. 3. The state highway commission, hereinafter sometimes referred to as the commission, may provide by resolution for the issuance and sale of the refunding bonds and for the retirement thereof, and for any other matters in connection with the refunding bonds not inconsistent with the […]
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 […]