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Michigan Compiled Laws — MACKINAC BRIDGE AUTHORITY (Act 214 of 1952)

Michigan · statute · 214 of 1952, Mich. Comp. Laws · 26 active provisions

26 active provisions.

Mich. Comp. Laws § 254.314

Mackinac bridge authority; bridge construction, bond proceeds; property acquisition and condemnation, surveys, easements.

The authority is hereby authorized and empowered to construct a suitable bridge (as “construct” and “bridge” are above defined) joining and linking together the upper peninsula and the lower peninsula of Michigan and to operate, maintain, improve and repair such bridge. The cost of such construction of the bridge shall…

MichiganMACKINAC BRIDGE AUTHORITYeffective
Mich. Comp. Laws § 254.315

Revenue bonds; purposes; sale or exchange of refunding bonds; contracts for fiscal agents' services; payment of principal, interest, and redemption premiums; serial bonds or term bonds; statement; signatures; negotiability; tax exemption; sale; approval; temporary bonds; recital; scope of section.

(1) The authority may by resolution of the board provide for the issuance of revenue bonds for the purpose of paying the cost of the bridge or for the purpose of refunding the bonds, including refunding bonds, or for any combination of these purposes. Refunding bonds may be either sold at not less than par and accrued…

MichiganMACKINAC BRIDGE AUTHORITYeffective
Mich. Comp. Laws § 254.316

Mackinac bridge authority; security, trust indenture; authority, duties; annual audit; depository; collateral security; approval.

In the discretion of the board any series of bonds hereunder may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or outside of the state, but no such trust indenture shall convey or mortgage the brid…

MichiganMACKINAC BRIDGE AUTHORITYeffective
Mich. Comp. Laws § 254.317

Mackinac bridge authority; bridge construction, tolls, utility lines, lease; appropriation, sale or lease; revenues, priority.

The authority shall properly construct, maintain, operate, repair, manage and control the bridge, except as hereinafter provided, and shall determine the rates of tolls and charges to be made for the services and facilities afforded thereby and may make and enter into all contracts or agreements deemed necessary or des…

MichiganMACKINAC BRIDGE AUTHORITYeffective
Mich. Comp. Laws § 254.324d

Transfer of funds, duties, and powers related to utility tunnel to corridor authority board; report; tunnel agreement; findings required; representation by attorney general.

(1) All liabilities, duties, responsibilities, authorities, and powers related to a utility tunnel as provided in section 14a and any money in the straits protection fund shall transfer to the corridor authority board upon the appointment of the members of the corridor authority board under section 14b(2). The transfer…

MichiganMACKINAC BRIDGE AUTHORITYeffective
Mich. Comp. Laws § 254.324e

Funding from any source other than straits protection fund; agreement to accept liability of utility equipment by user of utility tunnel; prohibited.

(1) Neither the Mackinac bridge authority nor the Mackinac Straits corridor authority may pay or obligate any money or assets related to the utility tunnel except money that is deposited into the straits protection fund or any escrow or reserve fund created under the tunnel agreement. This state, a state official, a st…

MichiganMACKINAC BRIDGE AUTHORITYeffective