Michigan Laws 259.122 – Issuance of bonds by authority
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 259.122
- Airport: means a publicly owned airport licensed by the state transportation department, bureau of aeronautics under section 86 and includes all airport facilities at the airport. See Michigan Laws 259.109
- Authority: means a public airport authority created by or pursuant to section 110 and governed by a board. See Michigan Laws 259.109
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
For the purpose of acquiring, purchasing, constructing, improving, enlarging, furnishing, equipping, reequipping, or repairing airports and airport facilities for which operational jurisdiction is transferred pursuant to this chapter or is acquired by the authority, the authority may issue self-liquidating bonds of the authority in accordance with and exercise all of the powers conferred upon public corporations by the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.139.