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20 chapters · 276 sections in this title.
Mich. Comp. Laws § 124.549 Acquisition of property.
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Sec. 9. (1) Subject to section 7, an authority may acquire property for a public transportation system by purchase, construction, lease, gift, or devise, either within or without the area served by the public transportation system, and may hold, manage, control, sell, exchange, o…
Mich. Comp. Laws § 124.550 Revenues; sources; assessment; collection of motor vehicle registration tax; asset management plan; report.
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Sec. 10. (1) An authority may raise revenues to fund all of its activities, operations, and investments consistent with its purposes. The sources of revenue available to an authority include, but are not limited to, all of the following: (a) Fees, fares, rents, or other charges f…
Mich. Comp. Laws § 124.551 Bonds, notes, or other evidence of indebtedness.
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Sec. 11. (1) For the purpose of acquiring, improving, enlarging, or extending a public transportation system, an authority may issue self-liquidating revenue bonds under the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.140, or any other act providing for the issuance …
Mich. Comp. Laws § 124.552 Financial obligation of authority.
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Sec. 12. (1) The revenue raised by an authority may be pledged, in whole or in part, for the repayment of bonded indebtedness and other expenditures issued or incurred by the authority. (2) A financial obligation of an authority is a financial obligation of the authority only and…