Michigan Laws 259.124 – Bonds or other evidence of indebtedness; tax exemption
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Terms Used In Michigan Laws 259.124
- Authority: means a public airport authority created by or pursuant to section 110 and governed by a board. See Michigan Laws 259.109
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
All bonds or other evidences of indebtedness issued by an authority under this chapter, and the interest thereon, are free and exempt from all taxation within the state, except for transfer and franchise taxes.