Michigan Compiled Laws
Act 381 of 1996 - Brownfield Redevelopment Financing Act (125.2651 - 125.2672)
Section 125.2668 - Operating Budget.

Sec. 18.
(1) The authority shall prepare and approve a budget for the operation of the authority for the ensuing fiscal year. The budget shall be prepared in the manner and contain the information required of municipal departments. Funds of a municipality shall not be included in the budget of the authority except those funds authorized in this act or by the governing body of the municipality.
(2) The governing body of a municipality may assess a reasonable pro rata share of the funds for the cost of handling and auditing the funds of the authority, other than those committed for designated purposes, which cost shall be paid annually by the authority under an appropriate item in its budget.
History: 1996, Act 381, Eff. Sept. 16, 1996

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 125 - Planning, Housing, and Zoning

Act 381 of 1996 - Brownfield Redevelopment Financing Act (125.2651 - 125.2672)

Section 125.2651 - Short Title.

Section 125.2652 - Definitions.

Section 125.2653 - Brownfield Redevelopment Authority; Establishment; Exercise of Powers; Alteration or Amendment of Boundaries; Authority as Public Body Corporate; Written Agreement With County.

Section 125.2654 - Resolution by Governing Body; Adoption; Notice; Public Hearing; Proceedings Establishing Authority; Presumption of Validity; Exercise of Powers as Essential Governmental Function.

Section 125.2655 - Designation of Board by Governing Body; Membership; Trustees; Applicability of Subsection (2); Election of Chairperson, Vice-Chairperson, and Other Officers; Oath; Procedural Rules; Meetings; Special Meetings; Removal of Member; Re...

Section 125.2656 - Appointment or Employment of Director, Treasurer, Secretary, Personnel, and Consultants; Assistance Provided by Municipality; Retirement and Insurance Programs.