Michigan Compiled Laws § 331.73d Refunding Bonds; Nonliability Of State; Statement.

331.73d Refunding bonds; nonliability of state; statement.

Sec. 43d.

The state shall not be liable on the refunding bonds of the state authority, and the bonds shall not be a debt of the state. Each bond shall contain on its face a statement to that effect. The state shall not be or become liable for a debt evidenced by the bonds or notes to be refunded as a result of the issuance of the refunding bonds.

History: Add. 1978, Act 277, Imd. Eff. July 3, 1978

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Last modified: October 10, 2016