2010 Michigan Compiled Laws
Chapter 123 - LOCAL GOVERNMENTAL AFFAIRS
Act 31 of 1948 (1st Ex. Sess.) - BUILDING AUTHORITIES (123.951 - 123.965)

BUILDING AUTHORITIES
Act 31 of 1948 (1st Ex. Sess.)
AN ACT to provide for the incorporation of authorities to acquire, furnish, equip, own, improve, enlarge, operate, and maintain buildings, automobile parking lots or structures, recreational facilities, stadiums, and the necessary site or sites therefor, together with appurtenant properties and facilities necessary or convenient for the effective use thereof, for the use of any county, city, village, or township, or for the use of any combination of 2 or more counties, cities, villages, or townships, or for the use of any school district and any city, village, or township wholly or partially within the district's boundaries, or for the use of any school district and any combination of 2 or more cities, villages, or townships wholly or partially within the district's boundaries, or for the use of any intermediate school district and any constituent school district or any city, village, or township, wholly or partially within the intermediate school district's boundaries; to provide for compensation of authority commissioners; to permit transfers of property to authorities; to authorize the execution of contracts, leases, and subleases pertaining to authority property and the use of authority property; to authorize incorporating units to impose taxes without limitation as to rate or amount and to pledge their full faith and credit for the payment of contract of lease obligations in anticipation of which bonds are issued by an authority; to provide for the issuance of bonds by such authorities; to validate action taken and bonds issued; to provide other powers, rights, and duties of authorities and incorporating units, including those for the disposal of authority property; and to prescribe penalties and provide remedies.

History: 1948, 1st Ex. Sess., Act 31, Imd. Eff. May 10, 1948 ;-- Am. 1955, Act 25, Imd. Eff. Apr. 7, 1955 ;-- Am. 1964, Act 41, Imd. Eff. May 6, 1964 ;-- Am. 1967, Act 200, Imd. Eff. June 30, 1967 ;-- Am. 1968, Act 96, Imd. Eff. June 6, 1968 ;-- Am. 1969, Act 46, Imd. Eff. July 17, 1969 ;-- Am. 1970, Act 47, Imd. Eff. July 2, 1970 ;-- Am. 1973, Act 110, Imd. Eff. Aug. 19, 1973 ;-- Am. 1995, Act 147, Imd. Eff. July 11, 1995 ;-- Am. 1998, Act 190, Eff. Mar. 23, 1999

• Section 123.951 - Local building authorities; incorporation; purposes.
• Section 123.952 - Joint buildings and parking lots; authorities; incorporation; purposes.
• Section 123.952a - Joint buildings and parking lots of school districts and municipalities; authorities; incorporation; acquisition; operation; maintenance; use.
• Section 123.952b - Public buildings used for disabled, retarded, or mentally disturbed children; constituent school districts with intermediate school districts; purpose; contract.
• Section 123.953 - Incorporating unit; definition.
• Section 123.954 - Incorporation of authority; procedure.
• Section 123.955 - County and municipal building authority; articles of incorporation; contents; eligibility of governing body member for membership or appointment.
• Section 123.955a - Joint building authority; commissioners; election and terms of members; chairperson; secretary; bylaws and rules of procedure; elected official as member; conducting business at public meeting; notice of meeting.
• Section 123.955b - Board of commissioners; compensation, per diem, mileage.
• Section 123.956 - Articles of incorporation; publication; statement; filing; effective date; presumption.
• Section 123.957 - Building authority; body corporate; powers.
• Section 123.958 - Contracts to acquire property; leases and subleases; acquisitions constituting public purpose; stadiums.
• Section 123.958a - Agreement in contract of lease to pay cash rental, costs, and expenses; general obligations; tax levy; other funds; setoff or abatement of cash rentals.
• Section 123.958b - Contract of lease; full faith and credit general obligation; resolution submitting contract to vote of electors; effective date; notice of intention; referendum petition; election.
• Section 123.958c - Violation of MCL 168.1 to 168.992 applicable to petitions; penalties.
• Section 123.959 - Building authority; acquisition of property, condemnation.
• Section 123.960 - Amendment of articles of incorporation.
• Section 123.961 - Building authority bonds or building authority refunding bonds; purpose; prerequisites; issuance of negotiable bonds to make cash rental payments.
• Section 123.961a - Building authority revenue bonds or building authority revenue refunding bonds; purpose; prerequisites of issuance.
• Section 123.961b - Ordinance or resolution authorizing issuance of bonds; adoption; contents.
• Section 123.961c - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
• Section 123.961d - Bonds; statutory lien.
• Section 123.961e - Bonds; use and disposition of proceeds.
• Section 123.961f - Additional bonds.
• Section 123.961g - Bond and interest redemption fund.
• Section 123.961h - Redemption of bonds prior to maturity.
• Section 123.961i - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
• Section 123.961j - Bonds subject to revised municipal finance act; tax exemption.
• Section 123.961k - Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
• Section 123.962 - Tax exemption for property.
• Section 123.963 - Bonds; retirement; conveyance of title to property.
• Section 123.964 - Construction of act.
• Section 123.965 - Validation of prior authorities, actions, and bonds.