120.101 Short title. Sec. 1. This act shall be known and may be cited as the “Hertel-Law-T. Stopczynski port authority act”. History: 1978, Act 639, Imd. Eff. Jan. 11, 1979 Compiler’s Notes: See Compiler’s note to MCL 120.130.
120.102 Definitions. Sec. 2. As used in this act: (a) “Authority” means a port authority created under this act and may also include the area within the jurisdiction of an authority. (b) “Constituent unit” means a city or county requesting the incorporation of an authority. (c) “Governing body of the city” means the city council […]
120.103 Port authority; exercise of powers and duties; jurisdiction. Sec. 3. An authority may exercise and apply any or all of its powers and duties as prescribed and set forth in this act, within the respective boundaries of the county or counties creating a port authority under this act, including jurisdiction over commercially navigable water […]
120.104 Port authority; incorporation; recommendations; articles of incorporation; body corporate and politic; public purpose. Sec. 4. (1) A city and county, a combination of counties or a combination consisting of at least 1 city and 1 county, by joint resolution of their respective governing bodies, may request the governor to authorize the incorporation of an […]
120.105 Port authority; appointment and terms of members; vacancy; reappointment; chairperson, vice-chairperson, and secretary-treasurer; quorum; voting; expenses; liability. Sec. 5. (1) Except as provided in subsection (5), an authority shall consist of 5 or 7 members as follows: (a) One member shall be appointed by the governor. (b) The remaining members shall be appointed by […]
120.106 Bond of secretary-treasurer. Sec. 6. Before the issuance of any bonds, notes, or other evidences of indebtedness under this act, the secretary-treasurer of an authority shall execute a bond in the penal sum of $100,000.00, conditioned upon the faithful performance of the duties of the office and executed by a surety company authorized to […]
120.107 Advisory committees and councils. Sec. 7. An authority may organize and create advisory committees and councils to serve at the pleasure of the authority for terms and purposes considered to be in the best interest of furthering the intent and purpose of this act. The committees and councils shall be made up of persons […]
120.108 Port authority; powers generally. Sec. 8. An authority may: (a) Adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct of its business. (b) Sue and be sued on the same basis as the state; and adopt and register with the secretary of state an official seal and alter that […]
120.109 Port authority; additional powers. Sec. 9. An authority may: (a) Appear in its own behalf before boards, commissions, departments, or other agencies of the federal government or of any state or international conferences and before committees of the congress of the United States and the state legislature in all matters relating to the design, […]
120.110 Port authority; additional powers. Sec. 10. An authority may: (a) Subject to the authority of the federal government and the state and with the agreement of the constituent units, provide for the preservation of navigation within its territorial jurisdiction, including the establishment by regulation of lines beyond which piers, bulkheads, wharves, pilings, structures, obstructions, […]
120.111 Port authority; liability. Sec. 11. Except with respect to docks or wharves owned, controlled, or operated by, the authority, this act shall not be construed to impose a duty upon an authority to a person using its waters in regard to the safety thereof, or to render an authority liable for loss of life […]
120.112 Acquisition of property by purchase, lease, or condemnation; sale or removal of structures; sale or lease of property. Sec. 12. (1) An authority may acquire by purchase or lease, when it considers the purchase or lease expedient, lands, structures, property, rights, rights of way, franchises, easements, and other interests in lands as it considers […]
120.113 Contracts for acquisition, improvement, enlargement, or extension of port facilities; payment of cost; pledge of full faith and credit; tax levy; methods of raising funds; assessment of costs. Sec. 13. (1) An authority and 1 or more constituent units may enter into a contract or contracts for the acquisition, improvement, enlargement, or extension of […]
120.114 Revenue bonds; applicability of revenue bond act; revenue bonds payable solely from revenues or income. Sec. 14. (1) An authority may provide by resolution for the issuance of revenue bonds of the authority for the purpose of providing funds for paying the cost of port facilities, or for paying the cost of an extension, […]
120.114a Violation of MCL 168.1 to 168.992 applicable to petitions; penalties. Sec. 14a. A petition under section 14, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954 PA 116, MCL 168.488. A person who violates a provision of the Michigan election law, 1954 PA 116, […]
120.115 Revenue bonds; form; date; denomination; place of payment; redemption; validity of signature or facsimile; issuance in coupon or registered form; registration, reconversion, and interchange of bonds. Sec. 15. An authority shall determine the form of the bonds of each series issued pursuant to section 14, including any interest coupons to be attached thereto, the […]
120.116 Revenue bonds; trust agreement. Sec. 16. Revenue bonds issued pursuant to this act shall be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company, within or without the state. The trust agreement may pledge […]
120.117 Bonds as securities; investment; deposit. Sec. 17. (1) Bonds issued under this act are securities in which all public officers and public agencies of the state and its political subdivisions and all banks, trust companies, savings and loan associations, investment companies, and others carrying on a banking business, all insurance companies and insurance associations […]
120.118 Additional bonds for acquisition of port facilities; authorization; resolution; issuance and execution of bonds; seal; negotiable instruments; maturities; payment; tax exemption; issuance of bonds or notes subject to revised municipal finance act. Sec. 18. (1) In addition to the bonds authorized in section 14, bonds may be issued for the purpose of acquiring port […]
120.119 Validation of bonds or notes; contesting validity. Sec. 19. Bonds or notes issued under this act by an authority are validated. An authority acting under this act or any constituent unit, including the county, shall not contest the validity of bonds or notes issued under this act or any contract which provides the security […]
