Michigan Compiled Laws
57-2018-8 - Part 8 Neighborhood Improvement Authorities (125.4802...125.4821)
Section 125.4804 - Multiple Authorities; Establishment; Authority as Public Body Corporate.

Sec. 804.
(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

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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)

57-2018-8 - Part 8 Neighborhood Improvement Authorities (125.4802...125.4821)

Section 125.4802 - Definitions; a to M.

Section 125.4803 - Definitions; O to T.

Section 125.4804 - Multiple Authorities; Establishment; Authority as Public Body Corporate.

Section 125.4805 - Operation of Authority; Resolution of Intent; Public Hearing; Notice; Adoption of Ordinance Establishing Authority; Filing; Alteration or Amendment of Boundaries; Exclusions; Duration.

Section 125.4806 - Annexation or Consolidation With Another Municipality.

Section 125.4807 - Board; Chief Executive Officer; Membership; Appointment; Terms; Vacancy; Oath; Open Meetings; Removal of Member; Financial Records; Writings Subject to Freedom of Information Act.

Section 125.4808 - Director; Compensation; Service; Eligibility; Oath; Posting of Bond; Director as Chief Executive Officer; Duties of Director; Acting Director; Treasurer; Secretary; Retention of Legal Counsel; Other Personnel.

Section 125.4809 - Municipal Retirement and Insurance Programs; Participation.

Section 125.4810 - Powers of Board.

Section 125.4811 - Financing Sources; Disposition of Money Received.

Section 125.4812 - Borrowing Money and Issuing Negotiable Revenue Bonds.

Section 125.4813 - Acquisition or Construction of Property; Borrowing Money and Issuing Revenue Bonds; Other Financing; Securing Bonds and Notes; Pledge; Exemption From Taxation; Exceptions; Liability; Investments.

Section 125.4814 - Tax Increment Financing Plan; Preparation and Submission; Contents; Hearing and Approval Procedure; Agreement With Taxing Jurisdiction; Modification; Exemption From Tax; Separate Millage for Public Library Purposes; Resolution.

Section 125.4815 - Tax Increment Revenues; Transmission to Authority; Expenditures.

Section 125.4816 - Authorization, Issuance, and Sale of Tax Increment Bonds; Limitations; Pledge; Resolution to Create Lien on Revenues; Limited Tax Pledge.

Section 125.4817 - Development Plan; Contents.

Section 125.4818 - Development Plan; Public Hearing; Notice; Opportunity to Speak and Provide Written Comment.

Section 125.4819 - Development Plan or Tax Increment Financing Plan as Public Purpose; Consideration for Approval, Rejection, or Modification.

Section 125.4820 - Budget; Submission; Approval; Cost of Handling and Auditing Funds.

Section 125.4821 - Dissolution of Authority; Property and Assets.