There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Act 197 of 1975
| AN ACT to provide for the establishment of a downtown development authority; to prescribe its powers and duties; to correct and prevent deterioration in business districts; to encourage historic preservation; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans in the districts; to promote the economic growth of the districts; to create a board; to prescribe its powers and duties; to authorize the levy and collection of taxes; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to reimburse downtown development authorities for certain losses of tax increment revenues; and to prescribe the powers and duties of certain state officials.
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| Document | Description |
| Section 125.1651 | Definitions. |
| Section 125.1651a | Legislative findings. |
| Section 125.1652 | Authority; establishment; restriction; public body corporate; powers generally. |
| Section 125.1653 | Resolution of intent to create and provide for operation of authority; public hearing on proposed ordinance creating authority and designating boundaries of downtown district; notice; exemption of taxes from capture; adoption, filing, and publication of ordinance; altering or amending boundaries; agreement with adjoining municipality; agreement with qualified township. |
| Section 125.1653a | Authority of annexing or consolidated municipality; obligations, agreements, and bonds. |
| Section 125.1653b | Ratification and validation of ordinance and actions; compliance. |
| Section 125.1653c | Proceedings or findings; validity. |
| Section 125.1653d | Establishment or amendment of authority, district, or plan; notice; publication or posting. |
| Section 125.1654 | Board; appointment, terms, and qualifications of members; vacancy; compensation and expenses; election of chairperson; oath; conducting business at public meeting; public notice; special meetings; removal of members; review; expense items and financial records; availability of writings to public; single board governing all authorities; member as resident or having interest in property; planning commission serving as board in certain municipalities; modification by interlocal agreement. |
| Section 125.1655 | Director, acting director, treasurer, secretary, legal counsel, and other personnel. |
| Section 125.1656 | Participation of employees in municipal retirement and insurance programs. |
| Section 125.1657 | Powers of board. |
| Section 125.1658 | Board serving as planning commission; agenda. |
| Section 125.1659 | Authority as instrumentality of political subdivision. |
| Section 125.1660 | Taking, transfer, and use of private property. |
| Section 125.1661 | Financing activities of authority; disposition of money received by authority; municipal obligations. |
| Section 125.1662 | Ad valorem tax; borrowing in anticipation of collection. |
| Section 125.1663 | Revenue bonds. |
| Section 125.1663a | Borrowing money; issuing revenue bonds or notes; purpose; costs; security; pledge and lien of pledge valid and binding; filing or recordation not required; tax exemption; bonds or notes neither liability nor debt of municipality; statement; investment and deposit of bonds and notes. |
| Section 125.1663b | Insufficient tax increment revenues to repay advance or pay obligation; contents, time, and payment of claim; appropriation and distribution of aggregate amount; limitations; distribution subject to lien; obligation as debt or liability; certification of distribution amount; basis for calculation of distributions and claim reports. |
| Section 125.1664 | Tax increment financing plan; preparation and contents; limitation; definition; public hearing; fiscal and economic implications; recommendations; agreements; modification of plan. |
| Section 125.1665 | Transmitting and expending tax increments revenues; reversion of surplus funds; abolition of tax increment financing plan; conditions; annual report on status of tax increment financing account; contents; publication. |
| Section 125.1666 | General obligation bonds and tax increment bonds; qualified refunding obligation. |
| Section 125.1667 | Development plan; preparation; contents; improvements related to qualified facility. |
| Section 125.1668 | Ordinance approving development plan or tax increment financing plan; public hearing; notice; record. |
| Section 125.1669 | Development plan or tax increment financing plan as constituting public purpose; determination; ordinance; considerations. |
| Section 125.1670 | Notice to vacate. |
| Section 125.1671 | Development area citizens council; establishment; appointment and qualifications of members; representative of development area. |
| Section 125.1672 | Development area citizens council; advisory body. |
| Section 125.1673 | Consultation. |
| Section 125.1674 | Development area citizens council; meetings; notice; record; information and technical assistance; failure to organize, consult, or advise. |
| Section 125.1675 | Citizens district council as development area citizens council. |
| Section 125.1676 | Notice of findings and recommendations. |
| Section 125.1677 | Development area citizens council; dissolution. |
| Section 125.1678 | Budget; cost of handling and auditing funds. |
| Section 125.1679 | Historic sites. |
| Section 125.1680 | Dissolution of authority; disposition of property and assets; reinstatement of authority; contesting validity of proceedings, findings, and determinations. |
| Section 125.1681 | Proceedings to compel enforcement of act; rules. |
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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