Sec. 821.
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
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 125.4806 - Annexation or Consolidation With Another Municipality.
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 125.4815 - Tax Increment Revenues; Transmission to Authority; Expenditures.
Section 125.4817 - Development Plan; Contents.
Section 125.4820 - Budget; Submission; Approval; Cost of Handling and Auditing Funds.
Section 125.4821 - Dissolution of Authority; Property and Assets.