Section 830.414 – Acquisition of Property; Condemnation.
830.414 Acquisition of property; condemnation. Sec. 4. The building authority may acquire property by purchase, construction, lease, gift, devise, or condemnation, and for the purpose of condemnation, it may proceed under the provisions of Act No. 149 of the Public Acts of 1911, as amended, being sections 213.21 to 213.41 of the Michigan Compiled Laws, […]
Section 830.415 – Conveyance to Building Authority of Property Owned by State or Institution of Higher Education.
830.415 Conveyance to building authority of property owned by state or institution of higher education. Sec. 5. (1) Property owned by the state may be conveyed to the building authority for any purpose expressed in this act, subject, however, to prior approval by the state administrative board, by the attorney general, and as provided in […]
Section 830.416 – Lease of Facilities to State; Term; Provisions.
830.416 Lease of facilities to state; term; provisions. Sec. 6. The building authority may lease existing facilities or facilities defined by this act for the purposes specified in this act, to the state, or any of its agencies acting on its behalf. A lease authorized by this act shall be for a period not exceeding […]
Section 830.417 – Lease of Facilities From Authority; Approval; Payment of True Rental; Leasing of Furnishings or Equipment; Lease for Capital Maintenance Improvements.
830.417 Lease of facilities from authority; approval; payment of true rental; leasing of furnishings or equipment; lease for capital maintenance improvements. Sec. 7. (1) The state may lease facilities from the building authority for public purposes within the concepts provided in this act, upon terms and conditions agreed upon and subject to the limitations and […]
Section 830.418 – Revenue Obligations Generally.
830.418 Revenue obligations generally. Sec. 8. (1) By resolution or resolutions of its board, the building authority may provide for the issuance of revenue obligations, which may include revenue bonds, revenue notes, or other evidences of revenue indebtedness, and refunding revenue bonds or notes, or other refunding evidences of indebtedness, the obligations for which shall […]
Section 830.418a – Reserve Fund; Creation; Purpose; Use of Income and Interest.
830.418a Reserve fund; creation; purpose; use of income and interest. Sec. 8a. The building authority may create and establish a special fund or funds to secure any issue of obligations, referred to as a reserve fund, and shall pay into the reserve fund any proceeds of sale of any issue of obligations to the extent […]
Section 830.411 – Definitions.
830.411 Definitions. Sec. 1. As used in this act: (a) “Building authority” means the state building authority created by this act. (b) “State” means the legislative, executive, and judicial branches of state government and includes institutions of higher education. (c) “Existing facilities” means all existing buildings and other facilities, the sites for the buildings or […]
Section 830.411a – Legislative Findings.
830.411a Legislative findings. Sec. 1a. The legislature finds all of the following: (a) That there is a present need for the state, its agencies, and departments, in order to carry out necessary governmental functions and enterprises and to provide necessary services to the people of the state as mandated or permitted by constitution and law, […]
Section 830.412 – State Building Authority; Creation; Body Corporate; Powers; Handling of Funds; Board of Trustees; Appointment and Terms of Members; Vacancy; Oath; Organization; Conducting Business at Public Meeting; Notice; Quorum; Action of Board.
830.412 State building authority; creation; body corporate; powers; handling of funds; board of trustees; appointment and terms of members; vacancy; oath; organization; conducting business at public meeting; notice; quorum; action of board. Sec. 2. (1) The state building authority is created, is made a body corporate, separate and distinct from the state, and may sue […]