§ 484.3201 Short title
§ 484.3202 Legislative findings
§ 484.3203 Definitions
§ 484.3204 Michigan broadband development authority; creation; duties
§ 484.3205 Administrative functions; performance under direction and supervision of state treasurer
§ 484.3206 Board of directors; membership; service of representative in member’s absence; compensation; chairperson; officers; quorum; voting; open meetings act; confidentiality; “trade secrets, commercial, fina
§ 484.3207 Powers of authority
§ 484.3208 Reserve capital account; creation; administration; credit of proceeds from sale of notes or bonds; capital reserve fund; creation; use; security arrangements; transfer of income or interest earned
§ 484.3209 Capital reserve fund; amount; deficiency; restoration; liability of state for notes or bonds
§ 484.3210 Notes and bonds; issuance, renewal, and refund by authority
§ 484.3211 Notes and bonds; issuance by resolution; form and terms; sale; prices
§ 484.3212 Notes or bonds; contents of resolutions
§ 484.3213 Money or property pledged and received by authority
§ 484.3214 Notes or bonds; personal liability
§ 484.3215 Notes or bonds; power of authority to purchase
§ 484.3216 Rights of authority to fulfill terms of agreement not limited, altered, or impaired
§ 484.3217 Notes or bonds as limited obligations
§ 484.3218 Default
§ 484.3219 Disposition of money held by authority
§ 484.3220 Notes and bonds as securities; investment
§ 484.3221 Full faith and credit bonds; issuance; vote
§ 484.3222 Notes and bonds; exemption from tax
§ 484.3223 Property; exemption from tax
§ 484.3224 Annual report
§ 484.3225 New partnerships or joint ventures; limitation

Terms Used In Michigan Laws > Chapter 484 > Act 49 of 2002 - Michigan Broadband Development Authority Act

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the Michigan broadband development authority created under section 4. See Michigan Laws 484.3203
  • Board: means the board of directors of the authority. See Michigan Laws 484.3203
  • Broadband developer: means a person selected by the authority to acquire, construct, develop, and create any part of the broadband infrastructure. See Michigan Laws 484.3203
  • Broadband infrastructure: means all facilities, hardware, and software and other intellectual property necessary to provide broadband services in this state, including, but not limited to, voice, video, and data. See Michigan Laws 484.3203
  • Broadband operator: means a person selected by the authority to operate any part of the broadband infrastructure. See Michigan Laws 484.3203
  • Broadband services: means those services, including, but not limited to, voice, video, and data, that provide capacity for transmission in excess of 200 kilobits per second in at least 1 direction regardless of the technology or medium used, including, but not limited to, wireless, copper wire, fiber optic cable, or coaxial cable. See Michigan Laws 484.3203
  • Capital reserve fund requirement: means the fund amount requirement that may be established in the resolution authorizing notes or bonds for which a capital reserve fund has been established under section 8. See Michigan Laws 484.3203
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Development costs: means the costs associated with the broadband infrastructure that have been approved by the authority and include, but are not limited to, all of the following:
  (i) The costs for the planning, acquiring, leasing, constructing, maintaining, and operating of the broadband infrastructure. See Michigan Laws 484.3203
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Majority leader: see Floor Leaders
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, corporation, limited or general partnership, joint venture, or limited liability company or a governmental entity, including state authorities, municipalities, counties, and townships, police, fire and other public safety organizations, judicial entities, medical entities, schools, colleges, universities, hospitals, libraries, community centers, and local economic development entities. See Michigan Laws 484.3203
  • Personal property: All property that is not real property.
  • Quorum: The number of legislators that must be present to do business.
  • seal: shall be construed to include any of the following:
    •   (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n
  • 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
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.
  • underserved areas: means geographical areas of this state identified by the authority as having the greatest need for broadband development. See Michigan Laws 484.3207
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o