***** 120.16 THIS SECTION IS SUBJECT TO CONDITIONAL REPEAL: See (2) of 120.130 *****
Sec. 16.
In lieu of the bonds authorized in section 15, any port district may issue revenue bonds as provided in Act No. 94 of the Public Acts of 1933, as amended, being sections 141.101 to 141.139 of the Compiled Laws of 1948, or as may be provided in any other appropriate statute of this state, for the purpose of financing the whole or any part of the cost of acquiring, improving, enlarging, extending or repairing any of the public improvements mentioned in section 14 and in such case any such public improvements shall be deemed to be a "public improvement" under said act, and the port district shall be governed by the provisions of said act in all matters covered thereby. No such bonds shall be issued without first obtaining the approval therefor by a majority vote of the governing body of each of the cities, townships or counties that are member units of the port districts. Revenue bonds which pledge the faith and credit of the port district shall be controlled by the general revenue limitations of section 24. No bonds, which pledge the faith and credit of the county or counties wherein the port district is situated, shall be issued without first obtaining the approval of the electors.
History: 1925, Act 234, Eff. Aug. 27, 1925 ;-- CL 1929, 2305 ;-- Am. 1933, Act 67, Imd. Eff. May 1, 1933 ;-- CL 1948, 120.16 ;-- Am. 1955, Act 190, Imd. Eff. June 14, 1955 ;-- Am. 1958, Act 178, Imd. Eff. Apr. 18, 1958 ;-- Am. 1966, Act 318, Eff. Mar. 10, 1967 Compiler's Notes: For repeal of act, see MCL 120.130 and Compiler's note thereto.
Structure Michigan Compiled Laws
Act 234 of 1925 - Port Districts (120.1 - 120.36)
Section 120.1 - Port Districts; Incorporation, Exercise of Powers.
Section 120.4 - Election; Notice, Form of Ballot.
Section 120.5 - Formation; Procedure, Referendum, Effective Date of Creation.
Section 120.8 - Formation of District; Election and Survey Expense.
Section 120.9 - Port Commission, Appointment, Term, Vacancies.
Section 120.10a - Conducting Business at Public Meeting; Notice.
Section 120.11 - Port Commission; Submission of Propositions at Elections, Canvass of Votes.
Section 120.12 - Port Commission; Commissioners, Compensation; Mileage, Expenses.
Section 120.13 - Port Commission; Acquisition of Property.
Section 120.13a - Port Commission; Acceptance of Gifts, Grants or Loan; Approval.
Section 120.14 - Port Districts; Powers.
Section 120.15 - Port District Public Improvement; Issue of Evidence of Indebtedness.
Section 120.17 - Port District Public Improvements; Lands, Leases and Easements.
Section 120.18 - Port District Public Improvements; Streams.
Section 120.19 - Port District Public Improvements; Waterways, Creation.
Section 120.20 - Public Improvements; Income Producing; Payment in Lieu of Taxes.
Section 120.21 - Commodities; Tolls, Fees, Rents; Approval.
Section 120.22 - Lease of Property; Maximum Term, Bond.
Section 120.23 - Sale of Property; Approval.
Section 120.24 - Port Commission; Taxes, Special Assessments; Allocation of Millage.
Section 120.24a, 120.24b - Repealed. 1958, Act 178, Imd. Eff. Apr. 18, 1958.
Section 120.25 - Port Commission; Bond Issues, Limit, Approval by Governing Bodies or Electors.
Section 120.26 - Port Commission; Assistants and Employes.
Section 120.27 - Port Commission; Expenditures, Authority, Bids.
Section 120.28 - Port Commission; Lease of Harbor Area, Rents.
Section 120.29a - Availability of Writings to Public.
Section 120.32 - Power to Borrow in Anticipation of Tax.
Section 120.33 - Fund Created; Special Funds; Disbursement.
Section 120.34 - Annual Reports; Budgets; Budget Committee.
Section 120.35 - Construction of Act.
Section 120.36 - Repealed. 1966, Act 318, Eff. Mar. 10, 1967.