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22 chapters · 116 sections in this title.
Mich. Comp. Laws § 129.261 Short title.
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Sec. 1. This act shall be known and may be cited as the "Michigan tobacco settlement finance authority act".
Mich. Comp. Laws § 129.262 Legislative findings and declaration.
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Sec. 2. The legislature finds and declares the following: (a) This state has entered into a master settlement agreement with major tobacco companies that should result in the state receiving substantial sums of money in perpetuity assuming no adverse changes in cigarette consumpt…
Mich. Comp. Laws § 129.263 Definitions.
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Sec. 3. As used in this act: (a) "Ancillary facility" means any revolving credit agreement, agreement establishing a line of credit or letter of credit, reimbursement agreement, interest rate exchange or similar agreement, currency exchange agreement, interest rate floor or cap, …
Mich. Comp. Laws § 129.264 Michigan tobacco settlement finance authority; creation; separate legal entity; issuance of bonds generally.
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Sec. 4. (1) The Michigan tobacco settlement finance authority is created as a public body corporate and politic within the department of treasury. The authority is a state institution within the meaning of section 9 of article II of the state constitution of 1963 and an instrumen…