There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 390 - UNIVERSITIES AND COLLEGES
Act 295 of 1969 - HIGHER EDUCATION FACILITIES AUTHORITY ACT (390.921 - 390.934)
HIGHER EDUCATION FACILITIES AUTHORITY ACTAct 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
- Section 390.921 - Higher education facilities authority act; short title.
- Section 390.921a - Legislative determination.
- Section 390.922 - Definitions.
- Section 390.923 - Michigan higher education facilities authority; creation; nature; members; exercise of powers, duties, and functions.
- Section 390.924 - Powers of authority.
- Section 390.925 - Loans to educational institutions for acquisition, construction, or alteration of educational facilities; conditions.
- Section 390.925a - Loans to educational institutions for refunding of certain outstanding obligations; conditions.
- Section 390.926 - Bonds.
- Section 390.927 - Pledge to bondholders.
- Section 390.928 - Bonds as investment.
- Section 390.929 - Payment and deposit of money; contract; security; examination of books and accounts.
- Section 390.930 - Tax exemption.
- Section 390.931 - Bonds; negotiability; tax exemption.
- Section 390.932 - Trustee; appointment; powers and duties.
- Section 390.933 - Nondiscrimination covenant.
- Section 390.934 - Personal liability as to notes or bonds.
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