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2018 Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 61 of 2007 NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (125.2911 - 125.2932)
***** Act 61 of 2007 THIS ACT IS REPEALED BY ACT 57 OF 2018 EFFECTIVE JANUARY 1, 2019 *****
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.
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