US Lawyer Database

Section 141.1408 – Powers of Authority; Tax Levy Prohibited.

141.1408 Powers of authority; tax levy prohibited. Sec. 8. (1) An authority may do all things necessary or convenient to carry out the purposes, objectives, and provisions of this act and the purposes, objectives, and powers delegated to the authority or the board by other laws or executive orders, including, without limitation, all of the […]

Section 141.1409 – Employment of Staff; Audits; Budget.

141.1409 Employment of staff; audits; budget. Sec. 9. (1) An authority may employ staff, including legal and technical experts, and other officers, or employees, permanent or temporary, paid from the funds of the authority. (2) The accounts of an authority are subject to annual audits by the state auditor general or a certified public accountant […]

Section 141.1411 – Payment of Costs From Certain Revenues.

141.1411 Payment of costs from certain revenues. Sec. 11. The payment of principal, interest, and other costs including engineering, financial, and issuance costs, associated with bonds issued by the authority may be made by the authority from any of the following revenues: (a) Federal grants, loans, appropriations, payments, or contributions. (b) The proceeds from the […]

Section 141.1412 – Issuance of Negotiable Revenue Bonds; Limitations.

141.1412 Issuance of negotiable revenue bonds; limitations. Sec. 12. (1) An authority may only issue negotiable revenue bonds under the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.140. An authority may not issue any other kinds of bonds, notes, or other obligations. (2) An authority may authorize and issue its negotiable […]

Section 141.1413 – Property of Authority.

141.1413 Property of authority. Sec. 13. (1) Property of an authority is public property devoted to an essential public and governmental function and purpose. Income of the authority is for a public purpose. (2) Except as otherwise provided in this subsection, the property of the authority and its income and operations are exempt from all […]

Section 141.1405 – Board of Directors; Powers, Duties, and Functions; Membership; Terms; Oath of Office; Vacancy; Eligibility of Legislative Member or City Official.

141.1405 Board of directors; powers, duties, and functions; membership; terms; oath of office; vacancy; eligibility of legislative member or city official. Sec. 5. (1) The powers, duties, and functions of an authority are vested in and shall be exercised by a board of directors. The board shall consist of 7 members as follows: (a) Two […]