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Code · Michigan · Chapter 331 — Hospitals

331.73d Refunding bonds; nonliability of state; statement.

86 words·~1 min read·/mi/chapter-331/331-73d

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331.73d Refunding bonds; nonliability of state; statement.
Sec. 43d.
The state shall not be liable on the refunding bonds of the state authority, and the bonds shall not be a debt of the state. Each bond shall contain on its face a statement to that effect. The state shall not be or become liable for a debt evidenced by the bonds or notes to be refunded as a result of the issuance of the refunding bonds.
History: Add. 1978, Act 277, Imd. Eff. July 3, 1978
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