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Code · Michigan · Chapter 254 — Bridges

254.364 Refunding bonds; negotiability and tax exemption.

59 words·~1 min read·/mi/chapter-254/254-364

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254.364 Refunding bonds; negotiability and tax exemption.
Sec. 4.
Refunding bonds issued under this act shall be deemed to be negotiable instruments under the laws of the state, and the principal of and interest on the bonds is not subject to taxation by the state or any taxing authority therein.
History: 1966, Act 13, Imd. Eff. Apr. 6, 1966
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