Michigan Compiled Laws Act 147 Of 1935 State Bridge Commission; Public Works (254.151 - 254.167)

AN ACT authorizing the acquisition, improvement, construction, operation and maintenance of certain public works by the state; providing for the creation of the state bridge commission; authorizing the issuance of revenue bonds of the state payable solely from earnings to pay the cost of such works; making such bonds exempt from taxation and making them eligible for certain investments; providing for the collection of fees, rents, tolls and other charges for the payment of such bonds and for the cost of maintenance, operation and repair of the works; declaring that no debt of the state shall be incurred in the exercise of any of the powers granted by this act; and providing for condemnation.

History: 1935, Act 147, Imd. Eff. June 4, 1935

Section 254.151 State Bridge Commission; Issuance Of Revenue Bonds For Public Works.
Issuance of revenue bonds for public works. The state bridge commission hereinafter created is hereby authorized and empowered to acquire by purchase and to...
Section 254.152 State Bridge Commission; Definitions.
Definitions. As used in this act, the following words and terms shall have the following meanings: (a) The word “commission” shall mean the state...
Section 254.153 State Bridge Commission; Membership, Oath, Bond.
State bridge commission. There is hereby created a commission to be known as the “state bridge commission,” and by that name the commission may...
Section 254.154 State Bridge Commission; Acquisition Of Necessary Property.
Acquisition of necessary property. The commission shall have power to acquire by purchase upon such terms and conditions and in such manner as it...
Section 254.155 State Bridge Commission; Purchase Of Public Works.
Purchase of works. The commission is hereby authorized to acquire by purchase whenever it shall deem such purchase expedient, but solely by means of...
Section 254.156 Improvement Of Public Works.
Improvement of works purchased. At or before the time any such works shall be acquired by purchase, it shall be the duty of the...
Section 254.157 Construction Of Public Works; Agreements With Other States And Canada.
Construction of works. The commission is hereby authorized to construct, whenever it shall deem such construction expedient, any public works hereinabove specified, the cost...
Section 254.158 Revenue Bonds For Public Works; Sale, Notice; Signature; Report To Administrative Board.
Revenue bonds. The commission is hereby authorized to provide by resolution for the issuance of revenue bonds of the state (A) for the purpose...
Section 254.159 Lien On Bond Proceeds.
Lien upon bond proceeds. All moneys received from any revenue bonds issued pursuant to this act shall be applied solely to the payment of...
Section 254.160 Trust Indenture; Collateral Security, Surety Bonds; Expenses.
Trust indenture. In the discretion of the commission, any series or issue of such revenue bonds may be secured by a trust indenture by...
Section 254.161 Revenues; Contracts With State Highway Department And Ontario; Elimination Of Tolls.
Tolls, fees, rents, rates or other charges shall be fixed, charged and collected for the use of such works and shall be so fixed...
Section 254.162 Powers Of Commission.
Powers. The commission shall have power to make and enter into all contracts or agreements necessary or incidental to the execution of its powers...
Section 254.163 Action By Trustee And Bondholders.
Action by trustee and bondholders. Any holder of any of such revenue bonds or any of the coupons attached thereto, and the trustee, if...
Section 254.164 Acceptance Of Contributions; Use.
Contributions. The commission shall have authority to receive and accept contributions of either money or property or other things of value to be held,...
Section 254.165 Competing Ferries.
Competing ferries. If the commission shall provide for the issuance hereunder of a single issue of revenue bonds for the purpose of paying the...
Section 254.166 Alternative Methods Of Act.
Act provides alternative method. This act shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby...
Section 254.167 Construction Of Act.
Act liberally construed. This act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes...

Last modified: October 10, 2016