Section 124.759 – Expedited Quiet Title and Foreclosure Action; Procedure.
124.759 Expedited quiet title and foreclosure action; procedure. Sec. 9. (1) An authority may initiate an expedited quiet title and foreclosure action under this section to quiet title to real property held by the authority or interests in tax reverted property held by the authority by recording with the register of deeds in the county […]
Section 124.760 – Property as Site of Environmental Contamination; Information to Be Provided to Department of Environmental Quality; Property Subject to Certain Conditions; Liability.
124.760 Property as site of environmental contamination; information to be provided to department of environmental quality; property subject to certain conditions; liability. Sec. 10. (1) If an authority has reason to believe that property held by the authority may be the site of environmental contamination, the authority shall provide the department of environmental quality with […]
Section 124.761 – Waste of or Unlawful Removal of Property; Restraining Order.
124.761 Waste of or unlawful removal of property; restraining order. Sec. 11. (1) An authority may institute a civil action to prevent, restrain, or enjoin the waste of or unlawful removal of any property from tax reverted property or other real property held by the authority. (2) A circuit court may, on application, order the […]
Section 124.762 – Authority as Party to Civil Action.
124.762 Authority as party to civil action. Sec. 12. An authority shall be made a party to any action or proceeding instituted for the purpose of setting aside title to property held by the authority, the sale of property by the authority, or an expedited foreclosure under section 9. A hearing in any such proceeding […]
Section 124.763 – Property of Authority as Public Property.
124.763 Property of authority as public property. Sec. 13. Property of an authority is public property devoted to an essential public and governmental function and purpose. Income of the authority is considered to be for a public and governmental purpose. The property of the authority and its income and operation are exempt from all taxes […]
Section 124.764 – Construction, Intent, and Scope of Act.
124.764 Construction, intent, and scope of act. Sec. 14. (1) This act shall be construed liberally to effectuate the legislative intent and the purposes as complete and independent authorization for the performance of each and every act and thing authorized by this act, and all powers granted shall be broadly interpreted to effectuate the intent […]
Section 124.751 – Short Title.
124.751 Short title. Sec. 1. This act shall be known and may be cited as the “land bank fast track act”. History: 2003, Act 258, Imd. Eff. Jan. 5, 2004 Compiler’s Notes: For transfer of powers and duties of state land bank fast track authority, with respect to issuance of bonds or notes, to Michigan […]
Section 124.752 – Legislative Findings.
124.752 Legislative findings. Sec. 2. The legislature finds that there exists in this state a continuing need to strengthen and revitalize the economy of this state and local units of government in this state and that it is in the best interests of this state and local units of government in this state to assemble […]
Section 124.753 – Definitions.
124.753 Definitions. Sec. 3. As used in this act: (a) “Authority” means a land bank fast track authority created under section 15, section 23(4), or section 23(5). (b) “Authority board” means the board of directors of the state authority appointed under section 16. (c) “Casino” means a casino regulated by this state under the Michigan […]
Section 124.754 – Powers.
124.754 Powers. Sec. 4. (1) Except as otherwise provided in this act, an authority may do all things necessary or convenient to implement the purposes, objectives, and provisions of this act, and the purposes, objectives, and powers delegated to the board of directors of an authority by other laws or executive orders, including, but not […]