Section 125.4901 – Definitions.
125.4901 Definitions. Sec. 901. As used in this part: (a) “Authority” means all of the following: (i) An authority as defined in part 2. (ii) An authority as defined in part 3. (iii) An authority as defined in part 4. (iv) An authority as defined in part 6. (v) An authority as defined in part […]
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 125.4910 – Website; Requirements.
125.4910 Website; requirements. Sec. 910. (1) Subject to subsection (5), each municipality that has created an authority or that creates an authority shall create a website or utilize the existing website of the municipality that is operated and regularly maintained with access to authority records and documents for the fiscal year beginning on the effective […]
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 125.4911 – Capture of Tax Increment Revenues; Report by Authority; Contents; Filing; Compilation by Department of Treasury; Submission to Legislature; Consultation With Professional Organizations.
125.4911 Capture of tax increment revenues; report by authority; contents; filing; compilation by department of treasury; submission to legislature; consultation with professional organizations. Sec. 911. (1) Annually, on a form and in the manner prescribed by the department of treasury, an authority that is capturing tax increment revenues shall submit to the governing body of […]
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 […]