Michigan Laws 484.3216 – Rights of authority to fulfill terms of agreement not limited, altered, or impaired
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 484.3216
- Authority: means the Michigan broadband development authority created under section 4. See Michigan Laws 484.3203
- 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
This state pledges and agrees with the holders of any notes or bonds issued under this act, that this state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders, or in any way impair the rights and remedies of the holders until the notes or bonds, together with earned interest, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged. The authority is authorized to include this pledge and agreement of this state in any agreement with the holders of notes or bonds under this act.