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Michigan Legislature
Michigan Compiled Laws Complete Through PA 93 of 2019
House: Adjourned until Wednesday, November 20, 2019 10:00:00 AM
Senate: Adjourned until Wednesday, November 20, 2019 10:00:00 AM

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Act 4 of 1947
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Act 4 of 1947

AN ACT to authorize and provide for the borrowing of $270,000,000.00 to make payments to persons who served in the military, naval, marine or coast guard forces of the United States, including women serving in auxiliary branches thereof, or to their next of kin or estates, and the issuance of certain serial bonds and serial notes for such indebtedness; to create a veterans' military pay fund and a veterans' bond redemption fund; to pledge the full faith and credit of the state; to provide for the payment of principal and interest on such serial obligations; to make appropriations therefor; and to make such serial notes and serial bonds exempt from taxation.

History: 1947, Act 4, Imd. Eff. Feb. 6, 1947 ;-- Am. 1951, Act 121, Imd. Eff. June 1, 1951

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 35.901SectionVeterans' bonds; issuance by state administrative board; interest; denominations; maturity; registration; reconversion; cancellation; execution by state treasurer; public sale; temporary bonds; proceeds to constitute veterans' military pay fund; state purchase.
Section 35.901aSectionVeterans' bonds; use of proceeds, provisions applicable.
Section 35.902SectionVeterans' bonds; appropriation for payment of principal and interest; redemption fund; surplus; expenses.
Section 35.903SectionSerial notes; issuance by state administrative board; maturity, redemption, interest, sale, denominations; proceeds credited to veterans' military pay fund.
Section 35.904SectionSerial bonds and notes; exemption from taxation.
Section 35.905SectionSerial bonds and notes; mutilation, replacement.
Section 35.906SectionDeclaration of immediate necessity of act.
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