Michigan Compiled Laws Act 55 Of 1953 Ferris State University (390.821 - 390.825)

AN ACT to authorize the board of control of Ferris state university to borrow money for the purpose of financing the erection and operation of residence halls, housing units, social centers, health residences and facilities, and structures designed for the fostering of athletics, dramatics, music and other similar activities at the university.

History: 1953, Act 55, Imd. Eff. May 8, 1953 ;-- Am. 1959, Act 214, Imd. Eff. July 30, 1959 ;-- Am. 1987, Act 160, Imd. Eff. Nov. 5, 1987

Section 390.821 Board Of Control; Powers.
The board of control of Ferris state university may do all of the following: (a) Acquire, purchase, or erect residence halls and housing units....
Section 390.822 Board Of Control; Title To Realty.
The title of all real estate and improvements acquired and erected under the provisions of this act shall be taken and held in the...
Section 390.823 Board Of Control; Borrowing Power.
In carrying out the above power, the board may borrow money, pledging the rents and income received from the residence halls and housing units...
Section 390.824 Payment Of Obligations.
Obligations assumed under this act shall not be or become a charge against this state, nor become a lien on or secured by any...
Section 390.825 Bonds; Purchase By State Unlawful.
Bonds or obligations issued under the provisions of this act shall not be purchased by the state of Michigan. History: 1953, Act 55, Imd....

Last modified: October 10, 2016