PocketLaw | Michigan Compiled Laws | 220 of 1982

Michigan Family Farm Development Authority; Creation; Purpose; Appointment, Qualifications, and Terms of Members; Expenses; Certificate of Appointment or Reappointment; Powers; Actions by Authority; Quorum; Findings of Fact; Conducting Business at Public Meeting; Notice of Meeting; Chairperson and Vice-Chairperson; Officers, Agents, and Employees; Delegation of Powers and Duties.

Section
285.254

Performance of Duties, Implementation of Powers, and Selection of Programs and Projects; Principles.

Section
285.255

Beginning Farmer Loan Program; Development; Exercise of Powers by Authority; Participation in Federal and State Programs; Requirements for Providing Loan to Beginning Farmer; Acceleration of Loan; Assumption of Mortgage; Transfer of Interest; Participation Interest in Mortgage Loan.

Section
285.260

Making, Purchasing, or Participating in Loans, Grants, or Deferred Payment Loans to Beginning Farmers; Secured or Unsecured Loans and Grants; Insurance; Interest Rate; Terms and Conditions; Rules.

Section
285.261

Loans to Mortgage Lenders; Requirements and Conditions.

Section
285.262

Purchasing Mortgage or Secured Loans From Mortgage Lenders; Commitment to Purchase; Requirements and Conditions.

Section
285.263

Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act.

Section
285.264

Bonds and Notes; Authorization; Requirements; Sale.

Section
285.265

Resolution Authorizing Notes or Bonds; Provisions.

Section
285.266

Pledge by Authority; Validity; Lien; Recording of Resolution or Instrument Not Required.

Section
285.267

Personal Liability on Note or Bond of Authority.

Section
285.268

Purchase and Cancellation of Notes or Bonds by Authority; Price.

Section
285.269

Nonliability of State on Notes or Bonds of Authority; Statement.

Section
285.270

Capital Reserve Funds.

Section
285.271

General Reserve Fund.

Section
285.272

Pledge and Agreement of State With Holders of Notes or Bonds.

Section
285.273

Default by Authority; Appointment and Powers of Trustee; Notice by Trustee.

Section
285.274

Depositing Money of Authority in Bank or Savings and Loan Association; Security; Contracting With Holders of Notes or Bonds for Certain Purposes; System of Accounts; Operating Expenditures; Audit.

Section
285.275

Notes and Bonds of Authority as Securities; Investment.

Section
285.276

Recommending Issuance of Faith and Credit Bonds to Legislature.

Section
285.277

Tax Exemptions.

Section
285.278

Covenant by State With Purchasers, Holders, and Transferees of Notes and Bonds Concerning Tax Exemptions.

Section
285.279

220 of 1982 - Michigan Family Farm Development Act (285.251 - 285.279)

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Short Title.

Definitions; Rules.

Performance of Duties, Implementation of Powers, and Selection of Programs and Projects; Principles.

Powers of Authority Generally.

Annual Report.

Use of Surplus Money.

Combining Program With Other State or Federal Programs.

Beginning Farmer Loan Program; Development; Exercise of Powers by Authority; Participation in Federal and State Programs; Requirements for Providing Loan to Beginning Farmer; Acceleration of Loan; Assumption of Mortgage; Transfer of Interest; Participation Interest in Mortgage Loan.

Making, Purchasing, or Participating in Loans, Grants, or Deferred Payment Loans to Beginning Farmers; Secured or Unsecured Loans and Grants; Insurance; Interest Rate; Terms and Conditions; Rules.

Loans to Mortgage Lenders; Requirements and Conditions.

Purchasing Mortgage or Secured Loans From Mortgage Lenders; Commitment to Purchase; Requirements and Conditions.

Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act.

Bonds and Notes; Authorization; Requirements; Sale.

Resolution Authorizing Notes or Bonds; Provisions.

Pledge by Authority; Validity; Lien; Recording of Resolution or Instrument Not Required.

Personal Liability on Note or Bond of Authority.

Purchase and Cancellation of Notes or Bonds by Authority; Price.

Nonliability of State on Notes or Bonds of Authority; Statement.

Capital Reserve Funds.

General Reserve Fund.

Pledge and Agreement of State With Holders of Notes or Bonds.

Default by Authority; Appointment and Powers of Trustee; Notice by Trustee.

Depositing Money of Authority in Bank or Savings and Loan Association; Security; Contracting With Holders of Notes or Bonds for Certain Purposes; System of Accounts; Operating Expenditures; Audit.

Notes and Bonds of Authority as Securities; Investment.

Recommending Issuance of Faith and Credit Bonds to Legislature.

Tax Exemptions.

Covenant by State With Purchasers, Holders, and Transferees of Notes and Bonds Concerning Tax Exemptions.

Prohibited Conduct; Violation; Penalties; Determination of Total Value; Prior Convictions; “Proceeds” Defined; Prohibition.