Mich. Comp. Laws § 254.312: Mackinac bridge authority; corporate existence, terms.

Sec. 2.

The corporate existence of the authority shall continue until all of its liabilities have been met and the bonds, including refunding bonds, have been paid in full or otherwise discharged and when all such liabilities and bonds have been discharged in full, all rights and properties of the authority shall pass to and be vested in the state.