Section 125.4805 – Operation of Authority; Resolution of Intent; Public Hearing; Notice; Adoption of Ordinance Establishing Authority; Filing; Alteration or Amendment of Boundaries; Exclusions; Duration.
125.4805 Operation of authority; resolution of intent; public hearing; notice; adoption of ordinance establishing authority; filing; alteration or amendment of boundaries; exclusions; duration. Sec. 805. (1) If the governing body of a municipality determines that it is necessary for the best interests of the public to promote residential growth in a residential district and to […]
Section 125.4821 – Dissolution of Authority; Property and Assets.
125.4821 Dissolution of authority; property and assets. Sec. 821. An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality. History: 2018, Act 57, […]
Section 125.4806 – Annexation or Consolidation With Another Municipality.
125.4806 Annexation or consolidation with another municipality. Sec. 806. If a development area is part of an area annexed to or consolidated with another municipality, the authority managing that development area shall become an authority of the annexing or consolidated municipality. Obligations of that authority incurred under a development or tax increment plan, agreements related […]
Section 125.4807 – Board; Chief Executive Officer; Membership; Appointment; Terms; Vacancy; Oath; Open Meetings; Removal of Member; Financial Records; Writings Subject to Freedom of Information Act.
125.4807 Board; chief executive officer; membership; appointment; terms; vacancy; oath; open meetings; removal of member; financial records; writings subject to freedom of information act. Sec. 807. (1) An authority shall be under the supervision and control of a board consisting of the chief executive officer of the municipality or his or her designee and not […]
Section 125.4808 – Director; Compensation; Service; Eligibility; Oath; Posting of Bond; Director as Chief Executive Officer; Duties of Director; Acting Director; Treasurer; Secretary; Retention of Legal Counsel; Other Personnel.
125.4808 Director; compensation; service; eligibility; oath; posting of bond; director as chief executive officer; duties of director; acting director; treasurer; secretary; retention of legal counsel; other personnel. Sec. 808. (1) The board may employ and fix the compensation of a director, subject to the approval of the governing body of the municipality. The director shall […]
Section 125.4809 – Municipal Retirement and Insurance Programs; Participation.
125.4809 Municipal retirement and insurance programs; participation. Sec. 809. The employees of an authority shall be eligible to participate in municipal retirement and insurance programs of the municipality as if they were civil service employees except that the employees of an authority are not civil service employees. History: 2018, Act 57, Eff. Jan. 1, 2019
Section 125.4810 – Powers of Board.
125.4810 Powers of board. Sec. 810. The board may do any of the following: (a) Prepare an analysis of economic changes taking place in the development area. (b) Study and analyze the impact of metropolitan growth upon the development area. (c) Plan and propose the construction, renovation, repair, remodeling, rehabilitation, restoration, preservation, or reconstruction of […]
Section 125.4811 – Financing Sources; Disposition of Money Received.
125.4811 Financing sources; disposition of money received. Sec. 811. (1) The activities of the authority shall be financed from 1 or more of the following sources: (a) Donations to the authority for the performance of its functions. (b) Money borrowed and to be repaid as authorized by sections 812 and 813. (c) Revenues from any […]
Section 125.4812 – Borrowing Money and Issuing Negotiable Revenue Bonds.
125.4812 Borrowing money and issuing negotiable revenue bonds. Sec. 812. The authority may borrow money and issue its negotiable revenue bonds under the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.140. History: 2018, Act 57, Eff. Jan. 1, 2019
Section 125.4813 – Acquisition or Construction of Property; Borrowing Money and Issuing Revenue Bonds; Other Financing; Securing Bonds and Notes; Pledge; Exemption From Taxation; Exceptions; Liability; Investments.
125.4813 Acquisition or construction of property; borrowing money and issuing revenue bonds; other financing; securing bonds and notes; pledge; exemption from taxation; exceptions; liability; investments. Sec. 813. (1) The authority may with approval of the local governing body borrow money and issue its revenue bonds or notes to finance all or part of the costs […]