reglab/housing_qa huggingface dataset:
MI Comp L § 331.43 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-2 - Chapter 2 (331.41...331.46)|Section 331.43 - Hospital Loan From State Authority; Purpose; Requirements; Security; Appointment of Receiver; Limitation on Loan; Repayment; Interest.

331.43 Hospital loan from state authority; purpose; requirements; security; appointment of receiver; limitation on loan; repayment; interest. Sec. 13.  The state authority may lend money to hospitals for the acquisition, construction, improvement, or alteration of hospital facilities. A hospital loan shall not be made unless the state authority is reasonably satisfied that there will be made available to the hospital from the hospital loan and other sources all the funds necessary to pay all project costs; that the hospital facility and other revenues pledged will produce sufficient revenues to meet the principal and interest on the hospital loan, other costs, expenses, and charges in connection with the loan and other charges or obligations of the hospital which may be prior or equal to the loan promptly as they become due; and that the hospital is otherwise soundly financed. The hospital loan may be secured by a mortgage of property of the hospital including the hospital facility and may provide for the appointment of a receiver to operate the hospital facilities in case of default. A hospital loan made pursuant to this section shall not exceed the project costs as determined by the state authority. A loan shall be secured in a manner, be repaid in a period not exceeding 50 years, and bear interest at a rate, as determined by the authority, which rate may be decreased or increased so that it is not less than the rate paid by the authority on notes, renewal notes, or bonds issued to fund the loan. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1970, Act 142, Imd. Eff. Aug. 1, 1970 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.45 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-2 - Chapter 2 (331.41...331.46)|Section 331.45 - Repealed. 1992, Act 302, Imd. Eff. Dec. 21, 1992.

331.45 Repealed. 1992, Act 302, Imd. Eff. Dec. 21, 1992. Compiler's Notes: The repealed section pertained to the creation and establishment of a bond reserve fund.
MI Comp L § 331.46 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-2 - Chapter 2 (331.41...331.46)|Section 331.46 - State Authority; State Treasurer, Agent; Deposits, Payments, Security; Agreements; System of Accounts.

331.46 State authority; state treasurer, agent; deposits, payments, security; agreements; system of accounts. Sec. 16.  (1) All moneys of the state authority, except as otherwise authorized or provided in this section, shall be paid to the state treasurer, as agent of the state authority, who shall not commingle such moneys with any other moneys. The moneys shall be deposited in a separate bank account or accounts. The moneys in such accounts shall be paid out by the state treasurer on requisition of the chairman of the state authority or of such other officer or employee as the state authority shall authorize. If required by the state treasurer or the state authority, all deposits of such moneys shall be secured by obligations of the United States or of the state of a market value equal at all times to the amount of the deposit and all banks and trust companies are authorized to give such security for such deposits.  (2) Notwithstanding the provisions of this section, the state authority, subject to the approval of the state treasurer, may contract with the holders of any of its notes or bonds as to the custody, collection, securing, investment and payment of any moneys of the state authority and any moneys held in trust or otherwise for the payment of notes or bonds. Moneys held in trust or otherwise for the payment of notes or bonds or in any way to secure notes or bonds and deposits of such moneys may be secured in the same manner as moneys of the state authority and all banks and trust companies are authorized to give such security for such deposits.  (3) Subject to agreements with noteholders and bondholders and the approval of the auditor general, the authority shall prescribe a system of accounts for the state authority. History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.51 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.51 - Incorporation of Local Hospital Authority; Purposes.

331.51 Incorporation of local hospital authority; purposes. Sec. 21.  An incorporating unit may incorporate a local hospital authority under this act for the purposes of constructing, acquiring, reconstructing, remodeling, improving, adding to, enlarging, repairing, owning, and leasing hospital facilities for the use of a hospital within or without the boundaries of the incorporating unit; lending money to a hospital for those purposes; refunding or refunding in advance obligations of a local authority or the state authority; or refinancing the indebtedness of a hospital. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.52 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.52 - Local Authority; Articles of Incorporation, Adoption, Certificate Form.

331.52 Local authority; articles of incorporation, adoption, certificate form. Sec. 22.  The incorporation of a local hospital authority shall be accomplished by the adoption of articles of incorporation by the governing body of the incorporating unit. The affirmative vote of the majority of the members-elect of the governing body of the incorporating unit is required for such adoption. The articles of incorporation shall be executed for and on behalf of the incorporating unit by the chief executive officer and clerk. The clerk of each incorporating unit shall also affix to the articles of incorporation, following the signatures thereto, a certificate in form substantially as follows:  “The foregoing articles of incorporation were adopted by the ......... of the ............... of ................., County of ................., Michigan, at a meeting duly held on the ..... day of ............., 19..... . Dated: .............., 19..... .  .............................. ........................Clerk” History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.53 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.53 - Local Authority; Articles, Contents.

331.53 Local authority; articles, contents. Sec. 23.  The articles of incorporation shall set forth the name of the local authority, which name shall include the world “hospital”; the name of the incorporating unit; the purpose for which the local authority is created; the number, terms and manner of selection of the local authority's officers, including its governing board which shall be known as the “commission”; the powers and duties of the local authority and of its officers; the date upon which the articles of incorporation shall become effective and the local authority shall be established; the name of the newspaper in which the articles of incorporation shall be published and the name of the person responsible for the publication and filings required by this act; and any other matters necessary or expedient to be included therein. History: 1969, Act 38, Imd. Eff. July 14, 1969 Compiler's Notes: The term “world” near the beginning of this section evidently should read “word.”
MI Comp L § 331.54 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.54 - Local Authority; Articles, Execution, Filing, Publication; Validity of Incorporation.

331.54 Local authority; articles, execution, filing, publication; validity of incorporation. Sec. 24.  The articles of incorporation shall be executed in duplicate and delivered to the county clerk of the county in which the local authority is located, who shall file 1 duplicate in his office and the other with the recording officer of the hospital authority when selected. The county clerk shall publish a copy of the articles of incorporation once in a newspaper designated in the articles of incorporation and circulating within the county. He shall file 1 printed copy of the articles of incorporation with the secretary of state and 1 in his office, attached to each shall be his certificate setting forth that the same is a true and complete copy of the original articles of incorporation on file in his office and also the date and place of the publication thereof. The local authority shall be established at the time provided in the articles of incorporation. The validity of the incorporation shall be conclusively presumed unless questioned in a court of competent jurisdiction within 60 days after the filing of the certified copies with the secretary of state and the county clerk. History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.55 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.55 - Local Authority; Articles, Amendment.

331.55 Local authority; articles, amendment. Sec. 25.  Amendments may be made to articles of incorporation if adopted by the governing body of the incorporating unit. No amendment shall impair the obligation of any bond or other contract. Each amendment shall be adopted, executed and published and certified printed copies filed, in the same manner as the original articles of incorporation. History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.56 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.56 - Local Authority as Public Body Corporate; Enumeration of Powers; General Powers Not Limited; Conducting Business at Public Meeting; Notice.

331.56 Local authority as public body corporate; enumeration of powers; general powers not limited; conducting business at public meeting; notice. Sec. 26.  (1) Each local authority is a public body corporate, having the succession and term as may be provided in its articles of incorporation. It may adopt and amend bylaws for the regulation of its affairs and the conduct of its business; adopt an official seal and alter it at its discretion; maintain offices at places as it designates; sue and be sued in its own name in any court of this state; and generally do and suffer to be done all things necessary for and convenient and incident to the carrying out of the purposes of its incorporation. The enumeration of powers in this act shall not be construed as a limitation upon the general powers.  (2) The business which the local authority may perform shall be conducted at a public meeting of the authority held in compliance with Act No. 267 of the Public Acts of 1976, being sections 15.261 to 15.275 of the Michigan Compiled Laws. Public notice of the time, date, and place of the meeting shall be given in the manner required by Act No. 267 of the Public Acts of 1976. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 206, Imd. Eff. June 4, 1978
MI Comp L § 331.57a (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.57a - Hospital Loan From Local Authority; Purpose; Requirements; Security; Appointment of Receiver; Limitation on Loan; Repayment; Interest.

331.57a Hospital loan from local authority; purpose; requirements; security; appointment of receiver; limitation on loan; repayment; interest. Sec. 27a.  A local authority may lend money to hospitals for the payment of project costs. A hospital loan shall not be made unless the local authority is reasonably satisfied that there will be made available to the hospital from the hospital loan and other sources all the funds necessary to pay the project costs; that the hospital facility and other revenues pledged will produce sufficient revenues to meet the principal and interest on the hospital loan, other costs, expenses, and charges connected with the loan, and other charges or obligations of the hospital which may be prior or equal to the loan promptly as they become due; and the hospital is otherwise soundly financed. The hospital loan may be secured by a mortgage of hospital property, including the hospital facility, and may provide for the appointment of a receiver to operate the hospital facilities in case of default. A hospital loan made pursuant to this section shall not exceed the project costs as determined by the local authority. A loan shall be secured in a manner, be repaid in a period not exceeding 50 years, and bear interest at a rate, as determined by the local authority. The rate may be decreased or increased so that it is not less than the rate paid by the local authority on notes, renewal notes, or bonds issued to fund the loan. History: Add. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.58 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.58 - Power of Local Authority to Borrow Money and Issue Negotiable Bonds; Purpose; Payment of Principal and Interest; Bond or Coupon Not General Obligation or Debt.

331.58 Power of local authority to borrow money and issue negotiable bonds; purpose; payment of principal and interest; bond or coupon not general obligation or debt. Sec. 28.  (1) For the purpose of defraying the project costs of hospital facilities, making hospital loans, refinancing indebtedness of a hospital, or refunding or refunding in advance obligations of any authority created or incorporated under this act, a local authority may borrow money and issue its negotiable bonds. The principal and interest of the bonds shall be payable solely from the net revenues derived from the hospital facilities, from the repayment of hospital loans, from gifts or grants, from amounts derived from the disposition of hospital facilities mortgaged or otherwise pledged as security for payment of the bonds or from investment earnings or profits on any of these sources.  (2) A bond or coupon issued pursuant to this act shall not be a general obligation of nor constitute a debt of the local authority or any of the incorporating units within the meaning of any constitutional, charter, or statutory limitation. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.59 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.59 - Contents of Resolution Authorizing Bonds.

331.59 Contents of resolution authorizing bonds. Sec. 29.  A resolution authorizing bonds or an issue of bonds under this chapter may contain provisions, which shall be a part of the contract with the holders of the bonds, as to:  (a) The use and disposition of the rentals received under the agreement, or the income from hospital loans and mortgages owned by the local authority, and payment of principal and interest on the loans and mortgages, including the creation of reserves or sinking funds, and the regulation and disposition of the reserves and sinking funds.  (b) The limitations on the purpose to which the proceeds of a sale of notes or bonds may be applied, and pledging those proceeds to secure the payment of the notes or bonds or of an issue of notes or bonds.  (c) The limitations on the issuance of additional notes or bonds and the terms and conditions upon which additional notes or bonds may be issued.  (d) The maintenance and repair costs of the hospital facilities, which costs may be assumed by the lessee hospital, in which event provision need not be made for rental payments to meet the costs.  (e) The insurance to be carried on the hospital facilities and the use and disposition of insurance moneys.  (f) The terms and conditions upon which the holder of the bonds, or a portion of the bonds, or any trustees therefor, shall be entitled to the appointment of a receiver by a court which has jurisdiction in the proceedings, and which receiver may enter and take possession of the hospital facilities and lease and maintain the facilities, prescribe rentals, and collect, receive, and apply all income and revenues thereafter arising from the facilities in the same manner and to the same extent as the hospital authority might do.  (g) The procedure by which the terms of a contract with noteholders or bondholders may be amended or abrogated, the amount of notes or bonds the holders of which must consent to an amendment or abrogation, and the manner in which the consent may be given.  (h) The vesting in 1 or more trustees of the property, rights, powers, remedies, and duties which the local authority considers necessary or convenient. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.60 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.60 - Additional Provisions of Resolution Authorizing Bonds.

331.60 Additional provisions of resolution authorizing bonds. Sec. 30.  A resolution authorizing the issuance of bonds under this act may provide that the principal of, and interest on, the bonds issued shall be secured by:  (a) In the case of a lease or lease purchase agreement, a mortgage or deed of trust covering the hospital facilities for which the bonds are issued and may include additions, improvements, or extensions made after the date of issuance. The mortgage or deed of trust may contain covenants and agreements to properly safeguard the bonds as may be provided for in the resolution authorizing the bonds, but not inconsistent with this act, and shall be executed in the manner provided in the resolution. The resolution may provide for the appointment of 1 or more trustees for bondholders and any such trustee may be an individual or corporation domiciled or located within or without the state and may be given appropriate powers whether with or without the execution of a mortgage or deed of trust covering the hospital facilities or site.  (b) In the case of loans to hospitals, a lien on all or part of the fees and charges made or received, or to be received, by the local authority from the hospital, on all or part of the money received in payment of the hospital loan and interest on the hospital loan, on all or part of investment earnings or profits on any of these sources, and on all or part of the security held for that payment. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.61 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.61 - Local Authority; Bonds, Enforcement of Payment, Validity, Publication.

331.61 Local authority; bonds, enforcement of payment, validity, publication. Sec. 31.  (1) The provisions of this act and any resolution and any mortgage or deed of trust shall continue in effect until the principal and interest on the bonds has been fully paid and the duties of the hospital authority and its commission and officers under this act and any resolution and any mortgage or deed of trust shall be enforceable by any bondholder by mandamus, foreclosure of the mortgage or deed of trust or other appropriate action in any court of competent jurisdiction.  (2) The resolution authorizing the bonds shall provide that the bonds shall contain a recital that they are issued pursuant to this act, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.  (3) Any resolution authorizing the issuance of bonds under this act shall not be effective until publication once in a newspaper of general circulation within the incorporating unit. History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.62 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.62 - Issuance of New Bonds.

331.62 Issuance of new bonds. Sec. 32.  If it considers refunding expedient, a local authority may periodically issue bonds to refund or refund in advance bonds or notes issued by the local authority, any other local authority, or the state authority, by the issuance of new bonds pursuant to the requirements of sections 43a to 43g. History: 1969, Act 38, Imd. Eff. July 14, 1969 ;-- Am. 1978, Act 277, Imd. Eff. July 3, 1978
MI Comp L § 331.63 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-3 - Chapter 3 (331.51...331.63)|Section 331.63 - Local Authority; Conveyance of Hospital Facilities.

331.63 Local authority; conveyance of hospital facilities. Sec. 33.  When all bonds issued pursuant to the provisions of this chapter have been retired, then the local authority may convey the title to the hospital facilities to the lessee hospital or organization authorized to operate a hospital in accordance with any agreement executed between the local authority and the lessee hospital. History: 1969, Act 38, Imd. Eff. July 14, 1969
MI Comp L § 331.71 (2021)
2021 Michigan Compiled Laws|Chapter 331 - Hospitals|Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)|38-1969-4 - Chapter 4 (331.71...331.84)|Section 331.71 - Applicability of Chapter.

331.71 Applicability of chapter. Sec. 41.  The state authority and each local authority shall be subject to and governed by the provisions of this chapter of this act except as to those matters which are specifically or by necessary implication provided for in chapter 2 for the state authority and chapter 3 for the local authority. History: 1969, Act 38, Imd. Eff. July 14, 1969