™Your Policy Risk Impact Agent
18 chapters · 130 sections in this title.
Mich. Comp. Laws § 254.361 Refunding bonds; issuance, purpose.
0.8K chars
Sec. 1. The state may borrow money and issue its refunding bonds for the purpose of refunding the following outstanding bonds issued by the Mackinac bridge authority, and agency and instrumentality of this state created by Act No. 21 of the Public Acts of the Extra Session of 195…
Mich. Comp. Laws § 254.362 Refunding bonds; amount; application of funds, pledge of state credit, appropriation.
1.6K chars
Sec. 2. The refunding bonds shall be issued in an amount sufficient to pay the costs of refunding of said outstanding bonds, which costs of refunding shall be deemed to include (a) the principal amount of the bonds to be refunded, (b) the amount of premium required to be paid for…
Mich. Comp. Laws § 254.363 Refunding bonds; issuance and sale, terms and conditions.
1.5K chars
Sec. 3. The state highway commission, hereinafter sometimes referred to as the commission, may provide by resolution for the issuance and sale of the refunding bonds and for the retirement thereof, and for any other matters in connection with the refunding bonds not inconsistent …
Mich. Comp. Laws § 254.364 Refunding bonds; negotiability and tax exemption.
0.2K chars
Sec. 4. Refunding bonds issued under this act shall be deemed to be negotiable instruments under the laws of the state, and the principal of and interest on the bonds is not subject to taxation by the state or any taxing authority therein.