Mich. Comp. Laws § 12.282

Current through Public Act 57 of the 2024 Legislative Session

Section 12.282 - Power to issue, sell, and deliver bonds; delegation

In the authority's resolution authorizing bonds or in the provisions of a trust agreement or trust indenture that the authority authorizes, the authority may delegate for a time period at the authority's discretion to an officer, employee, or designated agent of the authority the power to issue, sell, and deliver bonds within limits on those bonds established by the authority, as to any of the following:

(a) Form.

(b) Maximum interest rate or rates.

(c) Maturity date or dates.

(d) Purchase price.

(e) Denominations.

(f) Redemption dates and premiums, if any.

(g) Nature of the security.

(h) Selection of an applicable interest rate index.

(i) Other terms and conditions with respect to the bond issue that the authority prescribes.

MCL 12.282

Added by 2011, Act 267,s 12, eff. 12/19/2011.