Sec. 704.
(1) Except as otherwise provided in this subsection, a municipality may establish multiple authorities. A parcel of property shall not be included in more than 1 authority created under this part.
(2) An authority is a public body corporate that may sue and be sued in any court of this state. An authority possesses all the powers necessary to carry out its purpose. The enumeration of a power in this part shall not be construed as a limitation upon the general powers of an authority.
History: 2018, Act 57, Eff. Jan. 1, 2019
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)
57-2018-7 - Part 7 Water Resource Improvement Authorities (125.4702...125.4722)
Section 125.4702 - Definitions; a to M.
Section 125.4703 - Definitions; O to W.
Section 125.4704 - Establishment of Multiple Authorities; Powers.
Section 125.4706 - Annexation or Consolidation.
Section 125.4711 - Authority as Instrumentality of Political Subdivision.
Section 125.4712 - Financing Sources; Disposition of Money Received.
Section 125.4713 - Borrowing Money and Issuing Bonds.
Section 125.4717 - Authorization, Issuance, and Sale of Tax Increment Bonds.