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24 chapters · 135 sections in this title.
Mich. Comp. Laws § 285.275 Notes and bonds of authority as securities; investment.
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Sec. 25. The notes and bonds of the authority are securities in which all public officers and bodies of the state and all local units of government, all insurance companies and associations, and other persons carrying on an insurance business, all banks, trust companies, savings …
Mich. Comp. Laws § 285.276 Recommending issuance of faith and credit bonds to legislature.
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Sec. 26. The authority from time to time at its discretion may recommend an issuance of faith and credit bonds to the legislature for a vote of the people.
Mich. Comp. Laws § 285.277 Tax exemptions.
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Sec. 27. The property of the authority and its income and operation shall be exempt from all taxation by the state or any of its political subdivisions and all bonds and notes of the authority shall be exempt from all taxation by the state or any of its political subdivisions.
Mich. Comp. Laws § 285.278 Covenant by state with purchasers, holders, and transferees of notes and bonds concerning tax exemptions.
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Sec. 28. The state covenants with the purchasers and all subsequent holders and transferees of notes and bonds issued by the authority, in consideration of the acceptance of and payment for the notes and bonds, that the notes and bonds of the authority issued pursuant to this act…