Sec. 11.
The payment of principal, interest, and other costs including engineering, financial, and issuance costs, associated with bonds issued by the authority may be made by the authority from any of the following revenues:
(a) Federal grants, loans, appropriations, payments, or contributions.
(b) The proceeds from the sale, exchange, mortgage, lease, or other disposition of property that the authority has acquired.
(c) Grants, loans, appropriations, payments, proceeds from repayments of loans made by the authority, or contributions from public or private sources.
(d) Money in the fund including rents, admission fees, or other charges for use of the convention facility.
(e) Investment earnings on the revenues described in subdivisions (a) to (d).
History: 1999, Act 203, Imd. Eff. Dec. 21, 1999
Structure Michigan Compiled Laws
Chapter 141 - Municipal Financing
Act 203 of 1999 - The Convention Facility Authority Act (141.1401 - 141.1414)
Section 141.1401 - Short Title.
Section 141.1402 - Legislative Findings.
Section 141.1403 - Definitions.
Section 141.1404 - Establishment of Authority by County and City; Resolution; Organization.
Section 141.1406 - Board of Directors; Discharge of Duties; Actions; Meetings; Compensation.
Section 141.1407 - Conduct of Business at Public Meetings; Disclosure Requirements.
Section 141.1408 - Powers of Authority; Tax Levy Prohibited.
Section 141.1409 - Employment of Staff; Audits; Budget.
Section 141.1410 - Convention Facility Authority Fund; Creation; Disposition of Money.
Section 141.1411 - Payment of Costs From Certain Revenues.
Section 141.1412 - Issuance of Negotiable Revenue Bonds; Limitations.
Section 141.1413 - Property of Authority.
Section 141.1414 - Use of Funds Received Pursuant to Section 301 of 1999 Pa 137.