MCL - Act 49 of 2002

Chapter 484

Next Statute

MICHIGAN BROADBAND DEVELOPMENT AUTHORITY ACT
Act 49 of 2002
AN ACT to create the Michigan broadband development authority; to create funds and accounts; to authorize the issuing of bonds and notes; to prescribe the powers and duties of the authority; and to provide incentives for the development of broadband services.

History: 2002, Act 49, Imd. Eff. Mar. 14, 2002

The People of the State of Michigan enact:

Document	Type	Description
Section 484.3201	Section	Short title.
Section 484.3202	Section	Legislative findings.
Section 484.3203	Section	Definitions.
Section 484.3204	Section	Michigan broadband development authority; creation; duties.
Section 484.3205	Section	Administrative functions; performance under direction and supervision of state treasurer.
Section 484.3206	Section	Board of directors; membership; service of representative in member's absence; compensation; chairperson; officers; quorum; voting; open meetings act; confidentiality; “trade secrets, commercial, financial, or proprietary information” defined; employees; discharge of duties.
Section 484.3207	Section	Powers of authority.
Section 484.3208	Section	Reserve capital account; creation; administration; credit of proceeds from sale of notes or bonds; capital reserve fund; creation; use; security arrangements; transfer of income or interest earned.
Section 484.3209	Section	Capital reserve fund; amount; deficiency; restoration; liability of state for notes or bonds.
Section 484.3210	Section	Notes and bonds; issuance, renewal, and refund by authority.
Section 484.3211	Section	Notes and bonds; issuance by resolution; form and terms; sale; prices.
Section 484.3212	Section	Notes or bonds; contents of resolutions.
Section 484.3213	Section	Money or property pledged and received by authority.
Section 484.3214	Section	Notes or bonds; personal liability.
Section 484.3215	Section	Notes or bonds; power of authority to purchase.
Section 484.3216	Section	Rights of authority to fulfill terms of agreement not limited, altered, or impaired.
Section 484.3217	Section	Notes or bonds as limited obligations.
Section 484.3218	Section	Default.
Section 484.3219	Section	Disposition of money held by authority.
Section 484.3220	Section	Notes and bonds as securities; investment.
Section 484.3221	Section	Full faith and credit bonds; issuance; vote.
Section 484.3222	Section	Notes and bonds; exemption from tax.
Section 484.3223	Section	Property; exemption from tax.
Section 484.3224	Section	Annual report.
Section 484.3225	Section	New partnerships or joint ventures; limitation.