There is a newer version of the Michigan Compiled Laws
2016 Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 61 of 2007 NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (125.2911 - 125.2932)
AN ACT to provide for the establishment of a neighborhood improvement authority; to prescribe the powers and duties of the authority; to correct and prevent deterioration in neighborhoods and certain other areas; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans and development areas; to promote residential and economic growth; to create a board; to prescribe the powers and duties of the board; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to prescribe powers and duties of certain state officials; to provide for rule promulgation; and to provide for enforcement of the act.
History: 2007, Act 61, Imd. Eff. Sept. 19, 2007
- Section 125.2911 Short title.
- Section 125.2912 Definitions; A to M.
- Section 125.2913 Definitions; O to T.
- Section 125.2914 Multiple authorities; establishment; authority as public body corporate.
- Section 125.2915 Operation of authority; resolution of intent; public hearing; notice; adoption of ordinance establishing authority; filing; alteration or amendment of boundaries; exclusions; duration.
- Section 125.2916 Annexation or consolidation with another municipality.
- Section 125.2917 Board; chief officer; membership; appointment terms; vacancy; oath; open meetings; removal of member; financial records; writings subject to freedom of information act.
- Section 125.2918 Director; compensation; service; eligibility; oath; posting of bond; director as chief executive officer; duties of director; acting director; treasurer; secretary; retention of legal counsel; other personnel.
- Section 125.2919 Municipal retirement and insurance programs; participation.
- Section 125.2920 Authority of board.
- Section 125.2921 Financing sources; disposition of money received.
- Section 125.2922 Borrowing money and issuing negotiable revenue bonds.
- Section 125.2923 Acquisition or construction of property; borrowing money and issuing revenue bonds; other financing; securing bonds and notes; pledge; exemption from taxation; exceptions; liability; investments.
- Section 125.2924 Tax increment financing plan; preparation and submission; contents; hearing and approval procedure; agreement with taxing jurisdiction; modification; exemption from tax; separate millage for public library purposes; resolution.
- Section 125.2925 Tax increment revenues; transmission to authority; expenditures; report on status of tax increment financing account.
- Section 125.2926 Authorization, issuance, and sale of tax increment bonds; limitations; pledge; resolution to create lien on revenues; limited tax pledge.
- Section 125.2927 Development plan; contents.
- Section 125.2928 Development plan; public hearing; notice; opportunity to speak and provide written comment.
- Section 125.2929 Development plan or tax increment financing plan as public purpose; consideration for approval, rejection, or modification.
- Section 125.2930 Budget; submission; approval; cost of handling and auditing funds.
- Section 125.2931 Dissolution of authority; property and assets.
- Section 125.2932 Enforcement; 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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.