Michigan Compiled Laws Act 106 Of 1974 Bonds To Provide Service Bonus For Vietnam Veterans (35.1001 - 35.1011)

AN ACT to authorize the issuance of general obligation bonds of the state and to pledge the full faith and credit of the state for the payment of principal and interest thereon for a service bonus for certain veterans; to provide for other matters relating to the bonds and the use of the proceeds of sale of the bonds; and to provide for the submission of the question of the issuance of the bonds to the electors of the state.

History: 1974, Act 106, Eff. Nov. 5, 1974

Section 35.1001 Definitions.
When used in this act: (a) “Period of service” means that period of time between 12:01 a.m., January 1, 1961 and 12:01 a.m., September...
Section 35.1002 Bonds.
The state shall borrow not more than $205,000,000.00, pledge its faith and credit, and issue its serial notes or serial bonds therefor, with maturities...
Section 35.1003 Service Bonus For Certain Veterans.
(1) A combat veteran shall be paid a service bonus in the amount of $600.00. (2) A veteran shall be paid a service bonus...
Section 35.1004 Powers Of Administrative Board And Legislature.
The state administrative board shall provide by resolution, from time to time, for the issuance and sale of serial notes or serial bonds at...
Section 35.1005 Submission Of Question To Electors.
The question of borrowing the sum of $205,000,000.00 and issuing bonds of the state for the purposes set forth in this act shall be...
Section 35.1006 Nature Of Benefits; Tax Exemptions.
The benefits provided in this act are not pay for services rendered or subject to state or city income tax. History: 1974, Act 106,...
Section 35.1007 Expiration Of Benefits.
The benefits provided herein expire June 30, 1980. History: 1974, Act 106, Eff. Nov. 5, 1974
Section 35.1008 Duties Of Secretary Of State.
The secretary of state shall take such steps and perform all acts as are necessary to properly submit the question to the electors of...
Section 35.1009 Appropriations.
After the issuance of the bonds authorized by this act or a series thereof it shall be the duty of the legislature and the...
Section 35.1010 Condition To Issuance Of Bonds.
Bonds shall not be issued under this act unless the question set forth in section 5 is approved by a majority vote of the...
Section 35.1011 Effective Date.
This act shall be finally effective at such time as the question set forth in section 5 is approved by a majority vote of...

Last modified: October 10, 2016