Section 254.231 – Purpose of Project; Taxation.
254.231 Purpose of project; taxation. Sec. 11. The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of […]
Section 254.232 – Bonds Made Securities.
254.232 Bonds made securities. Sec. 12. Bonds issued by the authority under the provisions of this act are hereby made securities in which all banks, bankers, savings banks, trust companies, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an […]
Section 254.233 – Revenue Refunding Bonds; Purpose, Regulation.
254.233 Revenue refunding bonds; purpose, regulation. Sec. 13. The authority is hereby authorized to provide for the issuance of revenue refunding bonds of the authority for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this act, including the payment of any redemption premium thereon and any […]
Section 254.234 – Vehicular Traffic Facilities; Covenant With Bondholders; Limitations.
254.234 Vehicular traffic facilities; covenant with bondholders; limitations. Sec. 14. The state of Michigan covenants and agrees with the holders of the bonds issued under the provisions of this act that it will not construct or operate, or permit the construction or operation of, any bridge, tunnel or ferry service for vehicular traffic between the […]
Section 254.235 – Authorization for Action; Project Maintenance and Operation, Report to Governor, Failure to Pay Tolls, Surveying.
254.235 Authorization for action; project maintenance and operation, report to governor, failure to pay tolls, surveying. Sec. 15. Any action taken by the authority under the provisions of this act may be authorized by resolution at any regular or special meeting, and each such resolution shall take effect immediately and need not be published or […]
Section 254.236 – Bonds; Final Payment; Disposition of Property; Dissolution of Authority; Assumption of Powers and Responsibilities; Use of Property and Funds; Surveys and Studies; Availability of Data.
254.236 Bonds; final payment; disposition of property; dissolution of authority; assumption of powers and responsibilities; use of property and funds; surveys and studies; availability of data. Sec. 16. (1) When all bonds issued under this act in connection with the project and the interest on those bonds is paid or a sufficient amount for the […]
Section 254.237 – Powers; Supplemental and Additional.
254.237 Powers; supplemental and additional. Sec. 17. The foregoing sections of this act shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws: Provided, however, That the issuance of revenue bonds or revenue […]
Section 254.238 – Construction of Act.
254.238 Construction of act. Sec. 18. This act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof. History: 1954, Act 99, Imd. Eff. Apr. 12, 1954
Section 254.239 – Repealed. 2000, Act No. 243, Imd. Eff. June 29, 2000.
254.239 Repealed. 2000, Act No. 243, Imd. Eff. June 29, 2000. Compiler’s Notes: The repealed section pertained to appointment and terms of current members of international bridge authority.
Section 254.240 – Repeal.
254.240 Repeal. Sec. 20. The provisions of Act No. 237 of the Public Acts of 1935, as amended, being sections 254.201 to 254.216, inclusive, of the Compiled Laws of 1948, except for the provisions of section 2 thereof, are hereby repealed. All other general or special laws, or parts thereof, inconsistent herewith are hereby declared […]