Michigan Compiled Laws § 254.364 Refunding Bonds; Negotiability And Tax Exemption.

254.364 Refunding bonds; negotiability and tax exemption.

Sec. 4.

Refunding bonds issued under this act shall be deemed to be negotiable instruments under the laws of the state, and the principal of and interest on the bonds is not subject to taxation by the state or any taxing authority therein.

History: 1966, Act 13, Imd. Eff. Apr. 6, 1966

Section: Previous  254.361  254.362  254.363  254.364  254.365  254.366  254.367  254.368  254.369  254.370  254.371  254.372    Next

Last modified: October 10, 2016