Section 285.263 – Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act.
285.263 Bonds and notes; general obligations; negotiability; issuance subject to agency financing reporting act. Sec. 13. (1) The authority may issue its negotiable bonds and notes in a principal amount, which in the opinion of the authority is necessary to provide sufficient funds for achieving its corporate purposes, the payment of interest on bonds and […]
Section 285.264 – Bonds and Notes; Authorization; Requirements; Sale.
285.264 Bonds and notes; authorization; requirements; sale. Sec. 14. The notes and bonds shall be authorized by resolution of the members of the authority; shall bear a date or dates; and shall mature at a time or times, in the case of any note, or any renewal of a note, not exceeding 10 years, from […]
Section 285.265 – Resolution Authorizing Notes or Bonds; Provisions.
285.265 Resolution authorizing notes or bonds; provisions. Sec. 15. A resolution authorizing notes or bonds or an issue of notes or bonds may contain provisions, which shall be a part of the contract with the holders of the notes or bonds, as to: (a) Pledging all or any part of the fees and charges made […]
Section 285.203 – Agricultural Interests; Promotion in Townships; Discontinuance, Referendum.
285.203 Agricultural interests; promotion in townships; discontinuance, referendum. Sec. 3. Any township, which has elected to come under the provisions of this act, may terminate the effect thereof, whenever a majority of the qualified electors of the township, voting upon the question, shall vote in favor of the following proposition: “Shall the provisions of Act […]
Section 285.266 – Pledge by Authority; Validity; Lien; Recording of Resolution or Instrument Not Required.
285.266 Pledge by authority; validity; lien; recording of resolution or instrument not required. Sec. 16. Any pledge made by the authority shall be valid and binding from the time when the pledge is made. The money or property so pledged and thereafter received by the authority shall immediately be subject to the lien of that […]
Section 285.251 – Short Title.
285.251 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan family farm development act”. History: 1982, Act 220, Imd. Eff. July 10, 1982
Section 285.267 – Personal Liability on Note or Bond of Authority.
285.267 Personal liability on note or bond of authority. Sec. 17. The members of the authority or a person who executes a note or bond shall not be liable personally on the note or bond or be subject to any personal liability or accountability by reason of the issuance of the note or bond. History: […]
Section 285.252 – Definitions; Rules.
285.252 Definitions; rules. Sec. 2. (1) As used in this act: (a) “Agricultural land” means land suitable for use in farming. (b) “Agricultural improvements” means any improvements, buildings, structures, or fixtures suitable for use in farming which are located on agricultural land. Agricultural improvements includes a single-family dwelling located on agricultural land which is or […]
Section 285.253 – Michigan Family Farm Development Authority; Creation; Purpose; Appointment, Qualifications, and Terms of Members; Expenses; Certificate of Appointment or Reappointment; Powers; Actions by Authority; Quorum; Findings of Fact; Conducting Business at Public Meeting; Notice of Meeting; Chairperson and Vice-Chairperson; Officers, Agents, and Employees; Delegation of Powers and Duties.
285.253 Michigan family farm development authority; creation; purpose; appointment, qualifications, and terms of members; expenses; certificate of appointment or reappointment; powers; actions by authority; quorum; findings of fact; conducting business at public meeting; notice of meeting; chairperson and vice-chairperson; officers, agents, and employees; delegation of powers and duties. Sec. 3. (1) The Michigan family farm […]
Section 285.254 – Performance of Duties, Implementation of Powers, and Selection of Programs and Projects; Principles.
285.254 Performance of duties, implementation of powers, and selection of programs and projects; principles. Sec. 4. In the performance of its duties, the implementation of its powers, and the selection of specific programs and projects to receive its assistance, the authority shall comply with all of the following principles: (a) The authority shall not become […]