MCL - Act 183 of 1964

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STATE BUILDING AUTHORITY

Act 183 of 1964

AN ACT creating the state building authority with power to acquire, construct, furnish, equip, own, improve, enlarge, operate, mortgage, and maintain facilities for the use of the state or any of its agencies; to act as a developer or co-owner of facilities as a condominium project for the use of the state or any of its agencies; to authorize the execution of leases pertaining to those facilities by the building authority with the state or any of its agencies; to authorize the payment of true rentals by the state; to provide for the issuance of revenue obligations by the building authority to be paid from the true rentals to be paid by the state and other resources and security provided for and pledged by the building authority; to authorize the creation of funds; to authorize the conveyance of lands by the state or any of its agencies for the purposes authorized in this act; to authorize the appointment of a trustee for bondholders; to permit remedies for the benefit of parties in interest; to provide for other powers and duties of the authority; and to provide for other matters in relation to the authority and its obligations.


History: 1964, Act 183, Imd. Eff. May 19, 1964 ;-- Am. 1976, Act 240, Eff. Mar. 31, 1977 ;-- Am. 1980, Act 240, Imd. Eff. July 24, 1980 ;-- Am. 1981, Act 183, Imd. Eff. Dec. 23, 1981 ;-- Am. 1983, Act 156, Imd. Eff. July 24, 1983 ;-- Am. 1988, Act 248, Imd. Eff. July 11, 1988 ;-- Am. 1994, Act 252, Imd. Eff. July 5, 1994
Compiler's Notes: For transfer of state building authority from department of technology, management, and budget to department of treasury, see E.R.O. No. 2013-3, compiled at MCL 125.1393.




The People of the State of Michigan enact:
Document Type Description
Section 830.411 Section Definitions.
Section 830.411a Section Legislative findings.
Section 830.412 Section State building authority; creation; body corporate; powers; handling of funds; board of trustees; appointment and terms of members; vacancy; oath; organization; conducting business at public meeting; notice; quorum; action of board.
Section 830.413 Section Powers of building authority generally.
Section 830.414 Section Acquisition of property; condemnation.
Section 830.415 Section Conveyance to building authority of property owned by state or institution of higher education.
Section 830.416 Section Lease of facilities to state; term; provisions.
Section 830.417 Section Lease of facilities from authority; approval; payment of true rental; leasing of furnishings or equipment; lease for capital maintenance improvements.
Section 830.418 Section Revenue obligations generally.
Section 830.418a Section Reserve fund; creation; purpose; use of income and interest.
Section 830.419 Section Obligations; statutory first lien; enforcement.
Section 830.419a Section Moneys of building authority; contract with bondholders; security for deposits.
Section 830.420 Section Indebtedness of state.
Section 830.421 Section Exemption from taxation.
Section 830.421a Section Liability on notes or bonds.
Section 830.422 Section Investment in bonds.
Section 830.423 Section Declaration of public purpose; liberal construction.
Section 830.424 Section Act supplemental and additional to existing powers.
Section 830.425 Section Advisory opinion as to constitutionality.