PocketLaw | Michigan Compiled Laws | Part 505 Michigan Forest Finance

Part 505 Michigan Forest Finance Authority (324.50501...324.50522)

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Section
324.50501

Purpose of Part.

Section
324.50502

Definitions.

Section
324.50503

Michigan Forest Finance Authority; Creation; Exercise of Powers, Duties, and Functions; Handling of Funds.

Section
324.50504

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

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

Powers of Board.

Section
324.50507

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

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

Bonds and Notes Generally; Expenses; Expenditures.

Section
324.50510

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

Refunding Bonds or Notes.

Section
324.50512

Security to Assure Timely Payment of Bond or Note.

Section
324.50513

Bonds or Notes; Authority of Board Member, Executive Director, or Other Officer of Authority.

Section
324.50514

Resolution Authorizing Bonds or Notes; Provisions.

Section
324.50515

Pledge.

Section
324.50516

Personal Liability on Bonds or Notes.

Section
324.50517

Purchasing, Holding, Canceling, or Reselling Bonds or Notes.

Section
324.50518

Rights and Remedies.

Section
324.50519

Bonds or Notes as Legal Investments; Security.

Section
324.50520

Property and Income of Authority; Exemption From Taxes and Special Assessments; Bonds or Notes Exempt From Taxation.

Section
324.50521

Liberal Construction; Broad Interpretation.

Section
324.50522

Rules.