There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Act 639 of 1978
| AN ACT to authorize the establishing of port authorities in cities and counties; to prescribe the powers and duties of port authorities, cities, and counties; to authorize the incurrence of contract obligations and the issuance and payment of bonds or other evidences of indebtedness; to provide for a pledge by a city or county of its full faith and credit for the payment of contract obligations entered into under this act and the levy of taxes without limitation as to rate or amount to the extent necessary; to validate obligations issued; to provide for the adoption of a port facilities plan; to provide for the financing of the operating budget of port authorities; to prescribe penalties and provide remedies; and to repeal acts and parts of acts.
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| Document | Description |
| Section 120.101 | Short title. |
| Section 120.102 | Definitions. |
| Section 120.103 | Port authority; exercise of powers and duties; jurisdiction. |
| Section 120.104 | Port authority; incorporation; recommendations; articles of incorporation; body corporate and politic; public purpose. |
| Section 120.105 | Port authority; appointment and terms of members; vacancy; reappointment; chairperson, vice-chairperson, and secretary-treasurer; quorum; voting; expenses; liability. |
| Section 120.106 | Bond of secretary-treasurer. |
| Section 120.107 | Advisory committees and councils. |
| Section 120.108 | Port authority; powers generally. |
| Section 120.109 | Port authority; additional powers. |
| Section 120.110 | Port authority; additional powers. |
| Section 120.111 | Port authority; liability. |
| Section 120.112 | Acquisition of property by purchase, lease, or condemnation; sale or removal of structures; sale or lease of property. |
| Section 120.113 | Contracts for acquisition, improvement, enlargement, or extension of port facilities; payment of cost; pledge of full faith and credit; tax levy; methods of raising funds; assessment of costs. |
| Section 120.114 | Revenue bonds; applicability of revenue bond act; revenue bonds payable solely from revenues or income. |
| Section 120.114a | Violation of §§ 168.1 to 168.992 applicable to petitions; penalties. |
| Section 120.115 | Revenue bonds; form; date; denomination; place of payment; redemption; validity of signature or facsimile; issuance in coupon or registered form; registration, reconversion, and interchange of bonds. |
| Section 120.116 | Revenue bonds; trust agreement. |
| Section 120.117 | Bonds as securities; investment; deposit. |
| Section 120.118 | Additional bonds for acquisition of port facilities; authorization; resolution; issuance and execution of bonds; seal; negotiable instruments; maturities; payment; tax exemption; issuance of bonds or notes subject to revised municipal finance act. |
| Section 120.119 | Validation of bonds or notes; contesting validity. |
| Section 120.120 | Contract for use of port facilities; increase in charges; duration of contract. |
| Section 120.121 | Dock, waterfront, or riparian property; transfer, possession, or control. |
| Section 120.122 | Tax exemption. |
| Section 120.123 | Plan for future development, construction, and improvement of port and facilities; notice; comments; hearing; adoption; modification, amendment, or extension; plans for specific projects. |
| Section 120.124 | Operating budget. |
| Section 120.125 | Surplus of unencumbered funds; disposition. |
| Section 120.126 | Entry on lands, waters, and premises; purpose; reimbursement for actual damages. |
| Section 120.127 | Employees of port authority; transfer and payment of sick leave and annual leave; salary rate; job seniority and pension rights. |
| Section 120.128 | Annual report; audit. |
| Section 120.129 | Liberal construction; powers cumulative. |
| Section 120.130 | Repeal of §§ 120.1 to 120.35; effective date of subsection (1). |
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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