2010 Michigan Compiled Laws
Chapter 125 - PLANNING, HOUSING, AND ZONING
Act 450 of 1980 - THE TAX INCREMENT FINANCE AUTHORITY ACT (125.1801 - 125.1830)
Section 125.1802 - Authority; establishment; public body corporate; powers generally.
THE TAX INCREMENT FINANCE AUTHORITY ACT (EXCERPT)Act 450 of 1980
125.1802 Authority; establishment; public body corporate; powers generally.
Sec. 2.
(1) A municipality may establish not more than 1 authority. An authority shall exercise its powers in all development areas designated pursuant to this act.
(2) The authority shall be a public body corporate which may sue and be sued in any court of this state. The authority possesses all the powers necessary to carry out the purpose of its incorporation. The enumeration of a power in this act shall not be construed as a limitation upon the general powers of the authority. The powers granted in this act to an authority may be exercised notwithstanding that bonds are not issued by the authority.
History: 1980, Act 450, Imd. Eff. Jan. 15, 1981
Popular Name: TIFA
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