Michigan · statute · 106 of 1974, Mich. Comp. Laws · 11 active provisions
When used in this act: (a) "Period of service" means that period of time between 12:01 a.m., January 1, 1961 and 12:01 a.m., September 1, 1973. (b) "Veteran" means an individual who meets both of the following: (i) Is a veteran as defined in section 1 of 1965 PA 190, MCL 35.61. (ii) Has completed at least 190 days of h…
The state shall borrow not more than $205,000,000.00, pledge its faith and credit, and issue its serial notes or serial bonds therefor, with maturities as fixed by law for the purpose of paying to or for the benefit of veterans and their beneficiaries as provided in section 3.
(1) A combat veteran shall be paid a service bonus in the amount of $600.00. (2) A veteran shall be paid a service bonus of $15.00 per month for each month or major portion thereof served as a veteran but not to exceed a maximum of $450.00. (3) A person shall not be entitled to a bonus as both a veteran and a combat ve…
The state administrative board shall provide by resolution, from time to time, for the issuance and sale of serial notes or serial bonds at the lowest possible cost and the legislature is authorized to provide for the amounts and method of and eligibility for payment of the sums herein directed.
The question of borrowing the sum of $205,000,000.00 and issuing bonds of the state for the purposes set forth in this act shall be submitted to vote of the electors of the state qualified to vote thereon in accordance with the provisions of article 9, section 15 of the state constitution, at the next general November…
The benefits provided in this act are not pay for services rendered or subject to state or city income tax.
The benefits provided herein expire June 30, 1980.
The secretary of state shall take such steps and perform all acts as are necessary to properly submit the question to the electors of the state qualified to vote thereon at the next general November election.
After the issuance of the bonds authorized by this act or a series thereof it shall be the duty of the legislature and the legislature convenants that it will each year make appropriations fully sufficient to pay promptly when due the principal of and interest on all outstanding bonds authorized by this act and all cos…
Bonds shall not be issued under this act unless the question set forth in section 5 is approved by a majority vote of the qualified electors voting thereon at the next general November election.
This act shall be finally effective at such time as the question set forth in section 5 is approved by a majority vote of the qualified electors of the state as required by article 9, section 15 of the state constitution.