Act 220 of 1982 Michigan Family Farm Development Act (285.251 - 285.279)

Act 220 of 1982 Michigan Family Farm Development Act (285.251 - 285.279)

Section 285.251 Short Title.
Section 285.252 Definitions; Rules.
Section 285.253 Michigan Family Farm Development Authority; Creation; Purpose; Appointment, Qualifications, and Terms of Members; Expenses; Certificate of Appointment or Reappointment; Powers; Actions by Authority; Quorum; Findings of Fact; Conducting Business at Public Meeting; Notice of Meeting; Chairperson and Vice-Chairperson; Officers, Agents, and Employees; Delegation of Powers and Duties.
Section 285.254 Performance of Duties, Implementation of Powers, and Selection of Programs and Projects; Principles.
Section 285.255 Powers of Authority Generally.
Section 285.256 Annual Report.
Section 285.257 Use of Surplus Money.
Section 285.258 Combining Program With Other State or Federal Programs.
Section 285.259 Beginning Farmer Loan Program; Development; Exercise of Powers by Authority; Participation in Federal and State Programs; Requirements for Providing Loan to Beginning Farmer; Acceleration of Loan; Assumption of Mortgage; Transfer of Interest; Participation Interest in Mortgage Loan.
Section 285.260 Making, Purchasing, or Participating in Loans, Grants, or Deferred Payment Loans to Beginning Farmers; Secured or Unsecured Loans and Grants; Insurance; Interest Rate; Terms and Conditions; Rules.
Section 285.261 Loans to Mortgage Lenders; Requirements and Conditions.
Section 285.262 Purchasing Mortgage or Secured Loans From Mortgage Lenders; Commitment to Purchase; Requirements and Conditions.
Section 285.263 Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act.
Section 285.264 Bonds and Notes; Authorization; Requirements; Sale.
Section 285.265 Resolution Authorizing Notes or Bonds; Provisions.
Section 285.266 Pledge by Authority; Validity; Lien; Recording of Resolution or Instrument Not Required.
Section 285.267 Personal Liability on Note or Bond of Authority.
Section 285.268 Purchase and Cancellation of Notes or Bonds by Authority; Price.
Section 285.269 Nonliability of State on Notes or Bonds of Authority; Statement.
Section 285.270 Capital Reserve Funds.
Section 285.271 General Reserve Fund.
Section 285.272 Pledge and Agreement of State With Holders of Notes or Bonds.
Section 285.273 Default by Authority; Appointment and Powers of Trustee; Notice by Trustee.
Section 285.274 Depositing Money of Authority in Bank or Savings and Loan Association; Security; Contracting With Holders of Notes or Bonds for Certain Purposes; System of Accounts; Operating Expenditures; Audit.
Section 285.275 Notes and Bonds of Authority as Securities; Investment.
Section 285.276 Recommending Issuance of Faith and Credit Bonds to Legislature.
Section 285.277 Tax Exemptions.
Section 285.278 Covenant by State With Purchasers, Holders, and Transferees of Notes and Bonds Concerning Tax Exemptions.
Section 285.279 Prohibited Conduct; Violation; Penalties; Determination of Total Value; Prior Convictions; “Proceeds” Defined; Prohibition.

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