Sec. 1.
(1) A county, city, village, or township may incorporate, as provided in this act, 1 or more authorities for the purpose of acquiring, furnishing, equipping, owning, improving, enlarging, operating and maintaining a building or buildings, automobile parking lots or structures, transit-oriented developments, transit-oriented facilities, recreational facilities, stadiums, and the necessary site or sites therefore, together with appurtenant properties and facilities necessary or convenient for the effective use of the facilities, for use for any legitimate public purpose of the county, city, village, or township.
(2) As used in this section:
(a) "Transit-oriented development" means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use.
(b) "Transit-oriented facility" means a facility that houses a transit station in a manner that promotes transit ridership or passenger rail use.
History: 1948, 1st Ex. Sess., Act 31, Imd. Eff. May 10, 1948 ;-- CL 1948, 123.951 ;-- Am. 1954, Act 113, Imd. Eff. Apr. 15, 1954 ;-- Am. 1955, Act 25, Imd. Eff. Apr. 7, 1955 ;-- Am. 1964, Act 41, Imd. Eff. May 6, 1964 ;-- Am. 1968, Act 96, Imd. Eff. June 6, 1968 ;-- Am. 1970, Act 47, Imd. Eff. July 2, 1970 ;-- Am. 1992, Act 278, Imd. Eff. Dec. 18, 1992 ;-- Am. 1993, Act 121, Imd. Eff. July 20, 1993 ;-- Am. 2010, Act 243, Imd. Eff. Dec. 14, 2010
Structure Michigan Compiled Laws
Chapter 123 - Local Government
Act 31 of 1948 (1st Ex. Sess.) - Building Authorities (123.951 - 123.965)
Section 123.952 - Joint Buildings and Parking Lots; Authorities; Incorporation; Purposes.
Section 123.953 - Incorporating Unit; Definition.
Section 123.954 - Incorporation of Authority; Procedure.
Section 123.955b - Board of Commissioners; Compensation, per Diem, Mileage.
Section 123.957 - Building Authority; Body Corporate; Powers.
Section 123.958c - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
Section 123.959 - Building Authority; Acquisition of Property, Condemnation.
Section 123.960 - Amendment of Articles of Incorporation.
Section 123.961b - Ordinance or Resolution Authorizing Issuance of Bonds; Adoption; Contents.
Section 123.961c - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.961d - Bonds; Statutory Lien.
Section 123.961e - Bonds; Use and Disposition of Proceeds.
Section 123.961f - Additional Bonds.
Section 123.961g - Bond and Interest Redemption Fund.
Section 123.961h - Redemption of Bonds Prior to Maturity.
Section 123.961i - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.961j - Bonds Subject to Revised Municipal Finance Act; Tax Exemption.
Section 123.961k - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.962 - Tax Exemption for Property.
Section 123.963 - Bonds; Retirement; Conveyance of Title to Property.
Section 123.964 - Construction of Act.
Section 123.965 - Validation of Prior Authorities, Actions, and Bonds.