Section 36.109 – Investment in Bonds.
36.109 Investment in bonds. Sec. 9. Notwithstanding any restriction contained in any other law, rule, regulation, or order to the contrary, this state and all political subdivisions of this state, their officers, boards, commissioners, departments or other agencies, governmental pension funds, all banks, trust companies, savings banks and institutions, building and loan associations, savings and […]
Section 36.110 – Dissolution of Authority; Conditions; Disposition of Property, Funds, and Assets.
36.110 Dissolution of authority; conditions; disposition of property, funds, and assets. Sec. 10. The authority may be dissolved by act of the legislature on condition that the authority has no debts or obligations outstanding or that provision has been made for the payment or retirement of all debts or obligations. Upon any such dissolution of […]
Section 36.111 – Construction of Act.
36.111 Construction of act. Sec. 11. This act and all powers granted hereby shall be liberally construed to effectuate its intent and their purposes, without implied limitations on the powers of the authority, the state budget director, and the state treasurer. This act shall constitute full, complete, and additional authority for all things that are […]
Section 36.112 – Report; Supplemental Report; Audits.
36.112 Report; supplemental report; audits. Sec. 12. (1) The authority shall annually file a written report on its activities of the immediately preceding year with the governor, each house of the legislature, and the chairperson of the appropriations subcommittee of each house of the legislature that has jurisdiction over military and veterans’ affairs. This report […]
Section 36.112a – Quarterly Reports.
36.112a Quarterly reports. Sec. 12a. (1) No later than January 1, April 1, July 1, and October 1 of each year, the Michigan veteran homes on behalf of the authority, or a successor entity, shall submit a quarterly report in writing to the governor, the senate and house committees on veterans affairs, and the senate […]
Section 36.108 – Issuance of Bonds.
36.108 Issuance of bonds. Sec. 8. (1) The authority shall have power and is hereby authorized from time to time to issue bonds in the principal amount or amounts and with the maturities as the authority shall determine to be necessary to provide sufficient funds for achieving its authorized purposes. The department of treasury shall […]
Section 36.101 – Short Title.
36.101 Short title. Sec. 1. This act shall be known and may be cited as the “Michigan veterans’ facility authority act”. History: 2016, Act 560, Imd. Eff. Jan. 11, 2017
Section 36.102 – Definitions.
36.102 Definitions. Sec. 2. As used in this act: (a) “Authority” means the Michigan veterans’ facility authority created under section 3. (b) “Authority board” or “board” means the board of directors of the authority. (c) “Bond” means a bond, note, or other obligation issued by the authority under this act. (d) “Department” means the department […]
Section 36.103 – Michigan Veterans’ Facility Authority; Creation; Promulgation of Rules; Exercise of Powers and Duties; Powers as Essential Governmental Function; Separate Legal Entity; Operation and Staffing.
36.103 Michigan veterans’ facility authority; creation; promulgation of rules; exercise of powers and duties; powers as essential governmental function; separate legal entity; operation and staffing. Sec. 3. (1) The Michigan veterans’ facility authority is created as a public body corporate and politic within the department. The authority shall be administered under the supervision of the […]
Section 36.104 – Repealed. 2018, Act 630, Eff. Dec. 28, 2018.
36.104 Repealed. 2018, Act 630, Eff. Dec. 28, 2018. Compiler’s Notes: The repealed section pertained to the exercise of duties of the authority.