Michigan Compiled Laws
57-2018-7 - Part 7 Water Resource Improvement Authorities (125.4702...125.4722)
Section 125.4722 - Dissolution of Authority.

Sec. 722.
An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.
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.