MCL - 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505
Act 451 of 1994
MICHIGAN FOREST FINANCE AUTHORITY
Document | Type | Description |
---|---|---|
Section 324.50501 | Section | Purpose of part. |
Section 324.50502 | Section | Definitions. |
Section 324.50503 | Section | Michigan forest finance authority; creation; exercise of powers, duties, and functions; handling of funds. |
Section 324.50504 | Section | Board of directors; appointment; terms; oath; vacancy; persons subject to MCL 15.321 to 15.330; discharge of duties; policies and procedures; conducting business at public meetings; notice; quorum; actions of board; representative as voting member; chairperson. |
Section 324.50505 | Section | Election of chairperson and vice-chairperson; state forester as executive director; qualifications, duties, and compensation of employees; delegation of powers or duties; rights and interests of authority; annual report; audits; records. |
Section 324.50506 | Section | Powers of board. |
Section 324.50507 | Section | Financing forest management operations and practices; application of funds; interim procedure; annual list of activities and practices; projection of probable default; contracts for cutting and sale of timber; forest development fund; audit. |
Section 324.50508 | Section | Department as agent for authority; conveyance of state's interest in contracts granting timber cutting rights; deposit of money received; conveyance of title to timber. |
Section 324.50509 | Section | Bonds and notes generally; expenses; expenditures. |
Section 324.50510 | Section | Bonds or notes; purposes; payment; requirements; signature of board member or office of authority; sale of bonds or notes; applicability of other laws; interest rate agreement. |
Section 324.50511 | Section | Refunding bonds or notes. |
Section 324.50512 | Section | Security to assure timely payment of bond or note. |
Section 324.50513 | Section | Bonds or notes; authority of board member, executive director, or other officer of authority. |
Section 324.50514 | Section | Resolution authorizing bonds or notes; provisions. |
Section 324.50515 | Section | Pledge. |
Section 324.50516 | Section | Personal liability on bonds or notes. |
Section 324.50517 | Section | Purchasing, holding, canceling, or reselling bonds or notes. |
Section 324.50518 | Section | Rights and remedies. |
Section 324.50519 | Section | Bonds or notes as legal investments; security. |
Section 324.50520 | Section | Property and income of authority; exemption from taxes and special assessments; bonds or notes exempt from taxation. |
Section 324.50521 | Section | Liberal construction; broad interpretation. |
Section 324.50522 | Section | Rules. |