Sec. 15.
Nothing herein contained shall be interpreted to grant to any municipality the authority to operate an industrial building or any industrial machinery or equipment for its own use. The prohibition of this section shall not prevent a municipality from conserving and maintaining an industrial building and site and any industrial machinery and equipment acquired hereunder pending lease thereof to a private person, firm or corporation.
History: Add. 1966, Act 340, Imd. Eff. Sept. 21, 1966
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 62 of 1963 - Industrial Development Revenue Bond Act of 1963 (125.1251 - 125.1267)
Section 125.1251 - Legislative Determination; Short Title.
Section 125.1252 - Definitions.
Section 125.1253 - Powers of Municipality Generally.
Section 125.1255 - Resolution Authorizing Issuance of Bonds; Contents.
Section 125.1256 - Redemption of Bonds.
Section 125.1257 - Default; Receiver.
Section 125.1258 - Repealed. 1966, Act 340, Imd. Eff. Sept. 21, 1966.
Section 125.1259 - Additional Bonds; Refunding Bonds.
Section 125.1260 - Cost of Project.
Section 125.1261 - Taxation of Lessee; Liens; Recovery.
Section 125.1262 - Referendum; Intention to Issue Bonds.
Section 125.1262a - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
Section 125.1264 - Sale of Bonds.
Section 125.1265 - Municipalities; Powers as to Industrial Buildings and Machinery.