MCL - Act 295 of 1969
AN ACT to establish the Michigan higher education facilities authority; to prescribe its powers and duties; to authorize the authority to borrow money and issue bonds for educational facilities; to exempt the bonds from taxation; and to authorize the authority to lend money to nonprofit educational institutions in this state to finance or refinance capital improvements.
History: 1969, Act 295, Imd. Eff. Aug. 11, 1969
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Am. 1973, Act 50, Imd. Eff. July 11, 1973
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Am. 1975, Act 305, Imd. Eff. Dec. 22, 1975
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Am. 1982, Act 409, Imd. Eff. Dec. 28, 1982
| Document | Type | Description |
|---|---|---|
| Section 390.921 | Section | Higher education facilities authority act; short title. |
| Section 390.921a | Section | Legislative determination. |
| Section 390.922 | Section | Definitions. |
| Section 390.923 | Section | Michigan higher education facilities authority; creation; nature; members; exercise of powers, duties, and functions. |
| Section 390.924 | Section | Powers of authority. |
| Section 390.925 | Section | Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions. |
| Section 390.925a | Section | Loans to educational institutions for refunding of certain outstanding obligations; conditions. |
| Section 390.926 | Section | Bonds. |
| Section 390.927 | Section | Pledge to bondholders. |
| Section 390.928 | Section | Bonds as investment. |
| Section 390.929 | Section | Payment and deposit of money; contract; security; examination of books and accounts. |
| Section 390.930 | Section | Tax exemption. |
| Section 390.931 | Section | Bonds; negotiability; tax exemption. |
| Section 390.932 | Section | Trustee; appointment; powers and duties. |
| Section 390.933 | Section | Nondiscrimination covenant. |
| Section 390.934 | Section | Personal liability as to notes or bonds. |