2015 Michigan Compiled Laws
Chapter 120 - Port Districts
Act 234 of 1925 PORT DISTRICTS (120.1 - 120.36)***** ACT 234 OF 1925 THIS ACT IS SUBJECT TO CONDITIONAL REPEAL: See (2) of 120.130 *****
Section 120.22 Lease of property; maximum term, bond.
***** 120.22 THIS SECTION IS SUBJECT TO CONDITIONAL REPEAL: See (2) of 120.130 *****
120.22 Lease of property; maximum term, bond.
Sec. 22.
Each port commission shall have power to lease under such covenants and conditions as the commission may prescribe, all storage facilities, wharves, piers, bulkheads, docks, sheds, warehouses, industrial locations and other property owned and controlled by said port district upon such terms as the port commission may deem proper: Provided, That no lease shall be executed for longer than a period of 50 years and every such lease shall be secured by a bond with surety satisfactory to or approved by the port commission.
History: 1925, Act 234, Eff. Aug. 27, 1925 ;-- CL 1929, 2311 ;-- Am. 1933, Act 67, Imd. Eff. May 1, 1933 ;-- CL 1948, 120.22 ;-- Am. 1955, Act 190, Imd. Eff. June 14, 1955
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