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  6. Chapter 129 - Public Funds
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  8. Act 226 of 2005 Michigan Tobacco Settlement Fin...


Act 226 of 2005 Michigan Tobacco Settlement Finance Authority Act (129.261 - 129.279)


  • Section 129.261 Short Title.
  • Section 129.262 Legislative Findings and Declaration.
  • Section 129.263 Definitions.
  • Section 129.264 Michigan Tobacco Settlement Finance Authority; Creation; Separate Legal Entity; Issuance of Bonds Generally.
  • Section 129.265 Authority; Duties; Administrative Functions.
  • Section 129.266 Board of Directors; Membership; Terms; Vacancy; Compensation; Reimbursement; Chairperson; Quorum; Vote; Agents and Employees; Discharge of Duties by Member, Officer, Employee, or Agent; Independent Public Financial Advisor.
  • Section 129.267 Powers of Authority.
  • Section 129.268 Sale of State's Tobacco Receipts; Terms; Agreement; Refunding, Refinancing, and Sale of Residual Interests; Purchase Price; Remedies; Approval by Resolution Adopted by State Administrative Board; Absolute Transfer; Limitation on Use of Net Proceeds and Earnings.
  • Section 129.269 Obligations.
  • Section 129.270 Creation of Authority; Purpose as Public and Governmental; Property and Income Exempt From Tax; Interest.
  • Section 129.271 Duties of State Before Payment or Discharge of Bonds and Ancillary Facilities.
  • Section 129.272 Effect of Bonds Issued Under Act.
  • Section 129.273 Dissolution of Authority.
  • Section 129.274 Construction of Act.
  • Section 129.275 Availability of Funds.
  • Section 129.276 Report.
  • Section 129.277 Appropriation.
  • Section 129.278 Legal Jurisdiction.
  • Section 129.279 Severability.
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