reglab/housing_qa huggingface dataset:
MI Comp L § 390.925a (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.925a - Loans to Educational Institutions for Refunding of Certain Outstanding Obligations; Conditions.

390.925a Loans to educational institutions for refunding of certain outstanding obligations; conditions. Sec. 5a.  (1) The authority may lend money or participate in the lending of money to educational institutions for the refunding of outstanding obligations issued by educational institutions for the acquisition, construction, or alteration of educational facilities. An educational loan for refunding shall not be made unless the authority is reasonably satisfied that all of the following conditions exist:  (a) There will be made available to the institution from the loan and other sources all the funds that may be required to complete and pay for the acquisition, construction, or alteration of educational facilities.  (b) The revenues and income generally available and to become available to the institution for allocation to repayment of the loan and interest on the loan when due will be sufficient for repayment.  (c) The facility or alteration was needed, has not resulted in unnecessary duplication of existing facilities, and has been well planned.  (d) The facility or alteration is consistent with an orderly development and provision of educational services in the area.  (e) The acquisition, construction, or alteration of the educational facility has been paid and completed.  (f) The outstanding obligations of the educational institution to be refunded constitute a financial hardship to the educational institution, and the refunding of the obligations will enhance the ability of the educational institution to provide educational services.  (g) The loan shall not exceed the amount of principal and accrued interest outstanding with respect to the obligations to be refunded and incidental costs related to the issuance of bonds by the authority to provide funds to make the loan.  (2) The authority may lend money or participate in the lending of money to educational institutions as described in subsection (1) whether the loan is secured or unsecured, if the authority considers the action proper. History: Add. 1973, Act 50, Imd. Eff. July 11, 1973 ;-- Am. 1975, Act 305, Imd. Eff. Dec. 22, 1975 ;-- Am. 1982, Act 409, Imd. Eff. Dec. 28, 1982
MI Comp L § 390.927 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.927 - Pledge to Bondholders.

390.927 Pledge to bondholders. Sec. 7.  The state pledges and agrees with the holders of any bonds issued under this act, that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of the holders until the bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The authority is authorized to include this pledge and agreement of the state in any agreement with the holders of such bonds. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969
MI Comp L § 390.928 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.928 - Bonds as Investment.

390.928 Bonds as investment. Sec. 8.  The bonds of the authority are securities, in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, trust companies, savings banks and savings associations, savings and loan associations, investment companies, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are authorized to invest in bonds or other obligations of the state, may properly and legally invest funds, including capital, in their control or belonging to them. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969
MI Comp L § 390.929 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.929 - Payment and Deposit of Money; Contract; Security; Examination of Books and Accounts.

390.929 Payment and deposit of money; contract; security; examination of books and accounts. Sec. 9.  (1) All money of the authority, except as otherwise authorized or provided in this section, shall be paid to the state treasurer as agent of the authority, who shall not commingle the money with any other money. The money shall be deposited in a separate bank account or accounts. The money in the accounts shall be paid out on warrants signed by the state treasurer on requisition of the chairperson of the authority or of such other officer or employee as the authority shall authorize to make the requisition. All deposits of the money shall, if required by the state treasurer or the authority, 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 the security for the deposits.  (2) Notwithstanding the provisions of this section, the authority, subject to the approval of the state treasurer, may contract with the holders of any of its bonds, as to the custody, collection, securing, investment, and payment of any money of the authority, of any money held in trust or otherwise for the payment of bonds and carry out the contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the authority, and all banks and trust companies are authorized to give such security for the deposits.  (3) The auditor general, or his or her legally authorized representative, from time to time shall examine the books and accounts of the authority, including its receipts, disbursements, contracts, mortgages, loans, and any other matters relating to its financial standing. Such an examination shall be conducted by the auditor general at least once every year. The auditor general is authorized to accept from the authority, in lieu of such an examination, an external examination of its books and accounts made at the request of the authority. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969 ;-- Am. 1982, Act 409, Imd. Eff. Dec. 28, 1982
MI Comp L § 390.930 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.930 - Tax Exemption.

390.930 Tax exemption. Sec. 10.  The property of the authority and its income and operation shall be exempt from taxation. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969
MI Comp L § 390.931 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.931 - Bonds; Negotiability; Tax Exemption.

390.931 Bonds; negotiability; tax exemption. Sec. 11.  Bonds issued under this act shall be fully negotiable under the uniform commercial code, 1962 PA 174, MCL 440.1101 to 440.11102, and the bonds and the interest thereon are exempt from all taxation by this state or any of its political subdivisions. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969 ;-- Am. 2000, Act 356, Eff. Mar. 28, 2001
MI Comp L § 390.932 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.932 - Trustee; Appointment; Powers and Duties.

390.932 Trustee; appointment; powers and duties. Sec. 12.  (1) If the authority defaults in the payment of principal of or interest on any issue of bonds after the same shall become due, whether at maturity or upon call for redemption, and such default continues for a period of 30 days, or if the authority fails or refuses to comply with the provisions of this act, or defaults in any agreement made with the holders of any issue of bonds, the holders of 25% in aggregate principal amount of the bonds of such issue then outstanding, by instrument or instruments filed in the office of the clerk of the county of Ingham and approved or acknowledged in the same manner as a deed to be recorded, may appoint a trustee to represent the holders of such bonds for the purposes herein provided.  (2) The trustee may, and upon written request of the holders of 25% in principal amount of such bonds then outstanding shall, in his own name, by action or proceeding, enforce all rights of the bondholders, including the right to require the authority to collect fees and charges and interest and amortization payments of mortgage loans made by it adequate to carry out any agreement as to or pledge of, such fees and charges and interest and amortization payments on such mortgages, and other properties and to require the authority to carry out any other agreements with the holders of such bonds and to perform its duties under this act; bring suit upon such bonds; by action, require the authority to account as if it were the trustee of an express trust for the holders of such bonds; by action, enjoin any acts or things which may be unlawful or in violation of the rights of the holders of such bonds; declare all such bonds due and payable, and if all defaults shall be made good, then, with the consent of the holders of 25% of the principal amount of such bonds then outstanding, to annul such declaration and its consequences.  (3) In addition, the holders of bonds and the trustee authorized above, shall have all of the rights to which they may be entitled by virtue of provisions included in the bonds, or otherwise available to them under law. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969
MI Comp L § 390.933 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.933 - Nondiscrimination Covenant.

390.933 Nondiscrimination covenant. Sec. 13.  The authority shall require that use of educational facilities assisted under this act shall be consistent with the requirements in section 2(c) and shall be open to all regardless of race, religion, color, sex, or national origin, except that there may be restrictions on the basis of sex in the assignment of student living facilities assisted under this act, and that contractors and subcontractors engaged in the construction or alteration of educational facilities assisted under this act shall provide an equal opportunity for employment, without discrimination as to race, religion, color, sex, or national origin. The educational institution to which an educational loan is made shall covenant with the authority that the nondiscrimination provision shall be enforced. History: 1969, Act 295, Imd. Eff. Aug. 11, 1969 ;-- Am. 1972, Act 306, Eff. Mar. 30, 1973 ;-- Am. 1983, Act 238, Imd. Eff. Dec. 1, 1983
MI Comp L § 390.934 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)|Section 390.934 - Personal Liability as to Notes or Bonds.

390.934 Personal liability as to notes or bonds. Sec. 14.  A member of the authority or a person executing the notes or bonds is not personally liable on the notes or bonds or subject to any personal liability or accountability by reason of the issuance or nonissuance thereof. History: Add. 1972, Act 306, Eff. Mar. 30, 1973
MI Comp L § 390.941 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.941 - State Higher Education Facilities Commission; Establishment; Appointment, Qualifications, and Terms of Members; Ex Officio Members; Removal; Vacancy; Designation of Chairperson; Conducting Business at Public Meeting; Notice; Availability of Writings to Public.

390.941 State higher education facilities commission; establishment; appointment, qualifications, and terms of members; ex officio members; removal; vacancy; designation of chairperson; conducting business at public meeting; notice; availability of writings to public. Sec. 1.  (1) The state higher education facilities commission is established consisting of 11 members, 9 of whom shall be appointed by the governor with the advice and consent of the senate as follows: 1 member representing public colleges and universities in the state, 1 member representing private colleges and universities in the state, 1 member representing public community colleges and junior colleges in the state, and 6 residents of the state who are interested in higher education but are not officially associated with a public or private university, college, community college, or junior college in the state. The superintendent of public instruction and the director of the department of management and budget shall be ex officio members without vote.  (2) The term of office of the appointed members shall be 4 years and until a successor is appointed and qualified except that of the members first appointed, 3 each shall serve for 2, 3, and 4 years. A member may be removed in the manner provided for by law for removal of public officers. A vacancy shall be filled for the unexpired term in the same manner and for the same class as the original appointment. The governor shall designate 1 of the appointed members as chairperson of the commission.  (3) The business which the state higher education facilities commission may perform shall be conducted at a public meeting of the commission 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.  (4) A writing prepared, owned, used, in the possession of, or retained by the state higher education facilities commission in the performance of an official function shall be made available to the public in compliance with Act No. 442 of the Public Acts of 1976, being sections 15.231 to 15.246 of the Michigan Compiled Laws. History: 1964, Act 233, Imd. Eff. May 22, 1964 ;-- Am. 1967, Act 101, Imd. Eff. June 21, 1967 ;-- Am. 1978, Act 204, Imd. Eff. June 4, 1978 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.942 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.942 - State Higher Education Facilities Commission; Plan for Participation in Federal Grant Program.

390.942 State higher education facilities commission; plan for participation in federal grant program. Sec. 2.  The commission shall prepare a state plan for participation in the grant program authorized by the higher education facilities act of 1963, as enacted by the congress of the United States, being Public Law 88-204, 88th Congress, 77 Statutes 363, and amendments thereto, shall submit the state plan to the federal commissioner of education in accordance with appropriate federal law, and shall be responsible for the administration of the plan. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.943 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.943 - State Higher Education Facilities Commission; Expenditure of Appropriations.

390.943 State higher education facilities commission; expenditure of appropriations. Sec. 3.  The commission may take such action as is necessary to comply fully with the provisions of the higher education facilities act of 1963, and amendments thereto. This act shall not be construed as authorizing the commission to spend or incur any obligation to spend state funds in excess of any amount which may be appropriated for such purpose by the legislature. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.944 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.944 - State Higher Education Facilities Commission; Rules and Regulations, Hearing; Approval of Eligible Projects.

390.944 State higher education facilities commission; rules and regulations, hearing; approval of eligible projects. Sec. 4.  The commission shall formulate such rules and regulations as are necessary for the administration of this act, in accordance with the provisions of Act No. 88 of the Public Acts of 1943, as amended, being sections 24.71 to 24.82 of the Compiled Laws of 1948, and subject to the provisions of Act No. 197 of the Public Acts of 1952, as amended, being sections 24.101 to 24.110 of the Compiled Laws of 1948, including the filing of applications by public and private institutions of higher education within the state, for approval of eligible projects for the construction of academic facilities, the determination of relative priorities for eligible projects submitted by public and private institutions of higher education within the state, and for determination of the federal share of the development cost of each such project to be recommended to the commissioner of education. The rules and regulations shall be adopted by the commission only after a public hearing with due notice to interested persons and after interested persons have had a reasonable opportunity to request and obtain copies of proposed rules and regulations prior to the public hearing. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.Admin Rule: R 390.961 et seq. of the Michigan Administrative Code.
MI Comp L § 390.945 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.945 - State Higher Education Facilities Commission; Applications for Approval, Priority, Determination of Federal Share of Cost.

390.945 State higher education facilities commission; applications for approval, priority, determination of federal share of cost. Sec. 5.  The commission, in accordance with rules and regulations promulgated by it, shall receive applications from public and private institutions of higher education in this state for approval of projects for the construction of academic facilities, shall determine the relative priority of eligible projects for the construction of academic facilities submitted by such institutions and shall determine the federal share of the development cost of each such project for recommendation to the commissioner of education. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.946 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.946 - State Higher Education Facilities Commission; Hearing, Eligibility of Project, Priority, Determination as to Federal Grant.

390.946 State higher education facilities commission; hearing, eligibility of project, priority, determination as to federal grant. Sec. 6.  The commission, upon request of an applicant who has submitted to the commission a project, shall provide an opportunity for a fair hearing as to the eligibility of the project, the priority assigned to the project, the determination by the commission of the federal grant for the project, or any other determination of the commission affecting such applicant. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.947 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.947 - State Higher Education Facilities Commission; Gifts.

390.947 State higher education facilities commission; gifts. Sec. 7.  The commission may receive gifts, grants, bequests, devises, moneys or properties, real, personal or mixed, to carry out the purposes of this act. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.
MI Comp L § 390.948 (2021)
2021 Michigan Compiled Laws|Chapter 390 - Universities and Colleges|Act 233 of 1964 - State Higher Education Facilities Commission (390.941 - 390.948)|Section 390.948 - State Higher Education Facilities Commission; Annual Report, Contents.

390.948 State higher education facilities commission; annual report, contents. Sec. 8.  The commission shall make an annual report to the governor and to the legislature as to the administration of this act, which shall contain an explicit statement of the determination of the relative priority of each application and the determination of the federal share of the development cost of each project. History: 1964, Act 233, Imd. Eff. May 22, 1964 Compiler's Notes: For transfer of powers and duties of state higher education facilities commission to Michigan finance authority, see E.R.O. No. 2010-2, compiled at MCL 124.194.