Michigan Compiled Laws Act 4 Of 1947 Bonus Bonds (35.901 - 35.906)



AN ACT to authorize and provide for the borrowing of $270,000,000.00 to make payments to persons who served in the military, naval, marine or coast guard forces of the United States, including women serving in auxiliary branches thereof, or to their next of kin or estates, and the issuance of certain serial bonds and serial notes for such indebtedness; to create a veterans' military pay fund and a veterans' bond redemption fund; to pledge the full faith and credit of the state; to provide for the payment of principal and interest on such serial obligations; to make appropriations therefor; and to make such serial notes and serial bonds exempt from taxation.


History: 1947, Act 4, Imd. Eff. Feb. 6, 1947 ;-- Am. 1951, Act 121, Imd. Eff. June 1, 1951


Last modified: October 10, 2016