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 ACT
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 ;-- Am. 1973, Act 50, Imd. Eff. July 11, 1973 ;-- Am. 1975, Act 305, Imd. Eff. Dec. 22, 1975 ;-- 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.