Michigan Laws 331.73d – Refunding bonds; nonliability of state; statement
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Terms Used In Michigan Laws 331.73d
- 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
- State authority: means the hospital finance authority created by this act. See Michigan Laws 331.33
The state shall not be liable on the refunding bonds of the state authority, and the bonds shall not be a debt of the state. Each bond shall contain on its face a statement to that effect. The state shall not be or become liable for a debt evidenced by the bonds or notes to be refunded as a result of the issuance of the refunding bonds.