MCL - Index of 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 | PART 505 MICHIGAN FOREST FINANCE AUTHORITY (324.50501...324.50522) |
| 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. |