Michigan Compiled Laws
57-2018-7 - Part 7 Water Resource Improvement Authorities (125.4702...125.4722)
Section 125.4708 - Director; Compensation; Service; Oath; Bond; Duties; Acting Director; Treasurer; Secretary; Legal Counsel; Duties; Other Personnel.

Sec. 708.
(1) The board may employ and fix the compensation of a director, subject to the approval of the governing body of the municipality. The director shall serve at the pleasure of the board. A member of the board is not eligible to hold the position of director. Before beginning his or her duties, the director shall take and subscribe to the constitutional oath, and furnish bond, by posting a bond in the sum determined in the ordinance establishing the authority payable to the authority for use and benefit of the authority, approved by the board, and filed with the municipal clerk. The premium on the bond shall be considered an operating expense of the authority, payable from funds available to the authority for expenses of operation. The director shall be the chief executive officer of the authority. Subject to the approval of the board, the director shall supervise and be responsible for the preparation of plans and the performance of the functions of the authority in the manner authorized by this part. The director shall attend the meetings of the board and shall provide to the board and to the governing body of the municipality a regular report covering the activities and financial condition of the authority. If the director is absent or disabled, the board may designate a qualified person as acting director to perform the duties of the office. Before beginning his or her duties, the acting director shall take and subscribe to the oath, and furnish bond, as required of the director. The director shall furnish the board with information or reports governing the operation of the authority as the board requires.
(2) The board may employ and fix the compensation of a treasurer, who shall keep the financial records of the authority and who, together with the director, shall approve all vouchers for the expenditure of funds of the authority. The treasurer shall perform all duties delegated to him or her by the board and shall furnish bond in an amount prescribed by the board.
(3) The board may employ and fix the compensation of a secretary, who shall maintain custody of the official seal and of records, books, documents, or other papers not required to be maintained by the treasurer. The secretary shall attend meetings of the board and keep a record of its proceedings and shall perform other duties delegated by the board.
(4) The board may retain legal counsel to advise the board in the proper performance of its duties. The legal counsel shall represent the authority in actions brought by or against the authority.
(5) The board may employ other personnel considered necessary by the board.
History: 2018, Act 57, Eff. Jan. 1, 2019

Structure Michigan Compiled Laws

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 125.4705 - Intent to Create and Provide for Operation of Authority Within Water Resource Improvement District; Resolution of Intent; Notice of Public Hearing; Adoption of Ordinance; Filing; Publication; Alteration or Amendment of Boundaries;...

Section 125.4706 - Annexation or Consolidation.

Section 125.4707 - Board; Membership; Qualifications; Terms; Appointment to Fill Vacancy; Compensation; Oath of Office; Proceedings and Rules Subject to Open Meetings Act; Meetings; Removal of Board Member; Publication of Expense Items; Availability...

Section 125.4708 - Director; Compensation; Service; Oath; Bond; Duties; Acting Director; Treasurer; Secretary; Legal Counsel; Duties; Other Personnel.

Section 125.4709 - Participation of Employees in Municipal Retirement and Insurance Programs; Employees Not Civil Service Employees.

Section 125.4710 - Board; Powers; Duties; Preparation of Water Resource Management Plan; Consultation With Certain Entities; Application for State and Federal Permits.

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 125.4714 - Borrowing Money and Issuing Bonds or Notes; Security; Pledge; Lien; Exemption of Bonds or Notes From Taxation; Municipality Not Liable on Bonds and Notes of Authority; Statement; Investment; Deposit.

Section 125.4715 - Tax Increment Financing Plan; Preparation and Submission; Development Plan; Statement of Estimated Impact; Approval; Notice, Hearing, and Disclosure Provisions; Modification; Exempting Taxes From Capture; Resolution; Action of Libr...

Section 125.4716 - Transmission of Tax Increment Revenues to Authority; Expenditures; Terms; Reversion of Unused Funds; Abolishment of Plan; Conditions.

Section 125.4717 - Authorization, Issuance, and Sale of Tax Increment Bonds.

Section 125.4718 - Development Plan; Contents.

Section 125.4719 - Development Plan or Tax Increment Financing Plan; Adoption of Ordinance; Notice of Public Hearing; Purpose of Public Hearing.

Section 125.4720 - Determination of Public Purpose; Approval or Rejection of Plan; Modification; Considerations.

Section 125.4721 - Operation of Authority; Budget; Review by Board; Submission to Governing Body; Adoption; Cost of Handling and Auditing Funds.

Section 125.4722 - Dissolution of Authority.