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Section 254.369 – Repealed. 2005, Act 329, Imd.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254.369 Repealed. 2005, Act 329, Imd.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 Dec. 28, 2005 Compiler’s Notes: The repealed section pertained to transfer of operation of Mackinac bridge to state highway department.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 […]
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 […]