2010 Michigan Compiled Laws
Chapter 141 - MUNICIPAL FINANCING
Act 554 of 2008 - REGIONAL CONVENTION FACILITY AUTHORITY ACT (141.1351 - 141.1379)

REGIONAL CONVENTION FACILITY AUTHORITY ACT
Act 554 of 2008
AN ACT to create and provide for the incorporation of certain regional convention facility authorities; to provide for the membership of the authorities; to provide for the powers and duties of the authorities; to provide for the conveyance of ownership of and operational jurisdiction over certain convention facilities to authorities and to provide for the transfer of certain real and personal property utilized as convention facilities to authorities; to provide for the assumption of certain contracts, bonds, notes, and other evidences of indebtedness and liabilities related to convention facilities by authorities; to authorize the creation of certain funds; to authorize expenditures from certain funds; to finance the acquisition of land and the development of certain convention facilities and of public improvements or related facilities; to provide for the issuance of bonds and notes; to authorize certain investments; to provide for the transfer of public employees to the employment of authorities; to provide for the allocation of liabilities related to employee benefits; to protect certain rights of local government employees; and to impose certain powers and duties upon state and local departments, agencies, and officers.

History: 2008, Act 554, Eff. Jan. 20, 2009

• Section 141.1351 - Short title.
• Section 141.1353 - Legislative findings.
• Section 141.1355 - Definitions.
• Section 141.1357 - Qualified metropolitan area; creation of authority; authority as municipal public body corporate and politic; powers, duties, and jurisdictions; name; transfer of qualified convention facility from qualified city to authority; exemption from taxes and special assessments; presumption of validity.
• Section 141.1359 - Board of directors; membership; qualifications; "local government" defined; terms; vacancy; filing of appointment; oath; compensation; individuals prohibited from appointment.
• Section 141.1361 - Board; meeting; election of chairperson and officers; actions requiring unanimous consent; business conducted at public meeting; availability of records and documents to public; system of accounts; annual audit; budget; contracts; use of competitive procurement methods; exceptions; purchases; preferences; procedures to monitor performance of contracts; procurement policy; employment of personnel; certain actions prohibited; citizens advisory council.
• Section 141.1363 - Chief executive officer; appointment; compensation; duties; responsibilities; service; powers; bond; certain conduct prohibited.
• Section 141.1365 - Board member or officer, appointee, or employee of authority; discharge of duties; nonpartisan; reliance on certain opinions, reports, or statements; adoption of bylaws; personal liability; insurance; conflicts of interest; ethics manual; removal of board member from office; filing financial disclosure statement; rules; interest in or employment by entity after termination of board membership or employment.
• Section 141.1367 - Authority; powers and duties; levy of tax.
• Section 141.1369 - Transfer of qualified convention facility to authority; resolution disapproving transfer; leasing of qualified convention facility to authority; lease requirements; actions to occur on transfer date; duties and obligations of authority; certain contracts, agreements, conveyances, rights, obligations, or liabilities as voidable; cancellation or termination of agreement to which local government is party; reversion; agreement to make capital improvements.
• Section 141.1371 - Transfer of employees to authority; reassignment of employees within local government; representation; rights and benefits; effect of transfer on pension benefits or credits.
• Section 141.1373 - Revenue sources; establishment of regional convention facility operating trust fund; expenditures; limitation; financial obligation.
• Section 141.1375 - Bonds or municipal securities; issuance; interest rate exchange or swap, hedge, or similar agreements; creation of reserve fund; pledge; filing; issuance and delivery of notes; maturity; use of proceeds; exemptions.
• Section 141.1377 - Evidences of indebtedness or liability as contract; assumption and performance of obligations.
• Section 141.1379 - Applicability of restrictions standards or prerequisites of local government; additional powers; construction of act.