35.1001 Definitions. Sec. 1. When used in this act: (a) “Period of service” means that period of time between 12:01 a.m., January 1, 1961 and 12:01 a.m., September 1, 1973. (b) “Veteran” means an individual who meets both of the following: (i) Is a veteran as defined in section 1 of 1965 PA 190, MCL […]
35.1002 Bonds. Sec. 2. The state shall borrow not more than $205,000,000.00, pledge its faith and credit, and issue its serial notes or serial bonds therefor, with maturities as fixed by law for the purpose of paying to or for the benefit of veterans and their beneficiaries as provided in section 3. History: 1974, Act […]
35.1003 Service bonus for certain veterans. Sec. 3. (1) A combat veteran shall be paid a service bonus in the amount of $600.00. (2) A veteran shall be paid a service bonus of $15.00 per month for each month or major portion thereof served as a veteran but not to exceed a maximum of $450.00. […]
35.1004 Powers of administrative board and legislature. Sec. 4. The state administrative board shall provide by resolution, from time to time, for the issuance and sale of serial notes or serial bonds at the lowest possible cost and the legislature is authorized to provide for the amounts and method of and eligibility for payment of […]
35.1005 Submission of question to electors. Sec. 5. The question of borrowing the sum of $205,000,000.00 and issuing bonds of the state for the purposes set forth in this act shall be submitted to vote of the electors of the state qualified to vote thereon in accordance with the provisions of article 9, section 15 […]
35.1006 Nature of benefits; tax exemptions. Sec. 6. The benefits provided in this act are not pay for services rendered or subject to state or city income tax. History: 1974, Act 106, Eff. Nov. 5, 1974
35.1007 Expiration of benefits. Sec. 7. The benefits provided herein expire June 30, 1980. History: 1974, Act 106, Eff. Nov. 5, 1974
35.1008 Duties of secretary of state. Sec. 8. The secretary of state shall take such steps and perform all acts as are necessary to properly submit the question to the electors of the state qualified to vote thereon at the next general November election. History: 1974, Act 106, Eff. Nov. 5, 1974
35.1009 Appropriations. Sec. 9. After the issuance of the bonds authorized by this act or a series thereof it shall be the duty of the legislature and the legislature convenants that it will each year make appropriations fully sufficient to pay promptly when due the principal of and interest on all outstanding bonds authorized by […]
35.1010 Condition to issuance of bonds. Sec. 10. Bonds shall not be issued under this act unless the question set forth in section 5 is approved by a majority vote of the qualified electors voting thereon at the next general November election. History: 1974, Act 106, Eff. Nov. 5, 1974
35.1011 Effective date. Sec. 11. This act shall be finally effective at such time as the question set forth in section 5 is approved by a majority vote of the qualified electors of the state as required by article 9, section 15 of the state constitution. History: 1974, Act 106, Eff. Nov. 5, 1974 Compiler’s […]
