Statutes > Michigan Statutes > Chapter 259 - AVIATION > Act 327 of 1945 - AERONAUTICS CODE OF THE STATE OF MICHIGAN (259.1 - 259.208) > 327-1945-VIA. - CHAPTER VIA. ACQUISITION AND OPERATION OF AIRPORTS, LANDING FIELDS, AND OTHER AERONAUTICAL FACILITES BY PUBLIC AIRPORT AUTHORITIES (259.108...259.125c) > Section 259.124 - Bonds or other evidence of indebtedness; tax exemption.

Section 259.124 - Bonds or other evidence of indebtedness; tax exemption.

AERONAUTICS CODE OF THE STATE OF MICHIGAN (EXCERPT)
Act 327 of 1945

259.124 Bonds or other evidence of indebtedness; tax exemption.

Sec. 124.

All bonds or other evidences of indebtedness issued by an authority under this chapter, and the interest thereon, are free and exempt from all taxation within the state, except for transfer and franchise taxes.


History: Add. 2002, Act 90, Imd. Eff. Mar. 26, 2002