WATER RESOURCE IMPROVEMENT TAX INCREMENT FINANCE AUTHORITY ACT
Act 94 of 2008
AN ACT to provide for the establishment of a water improvement tax increment finance authority; to prescribe the powers and duties of the authority; to correct and prevent deterioration in water resources; 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 water resource improvement; 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: 2008, Act 94, Imd. Eff. Apr. 8, 2008
© 2009 Legislative Council, State of Michigan
The People of the State of Michigan enact:
| Section 125.1771 | Section | Short title. |
| Section 125.1772 | Section | Definitions; A to M. |
| Section 125.1773 | Section | Definitions; O to W. |
| Section 125.1773.amended | Section | Definitions; O to W. |
| Section 125.1774 | Section | Establishment of multiple authorities; powers. |
| Section 125.1775 | Section | Intent to create and provide for operation of authority within water resource improvement district; resolution of intent; notice of public hearing; adoption of ordinance; filing; publication; alteration or amendment of boundaries; agreement with adjoining municipality. |
| Section 125.1776 | Section | Annexation or consolidation. |
| Section 125.1777 | Section | Board; membership; qualifications; terms; appointment to fill vacancy; compensation; oath of office; proceedings and rules subject to open meetings act; meetings; removal of board member; publication of expense items; availability of financial records; writings subject to freedom of information act. |
| Section 125.1778 | Section | Director; compensation; service; oath; bond; duties; acting director; treasurer; secretary; legal counsel; duties; other personnel. |
| Section 125.1779 | Section | Participation of employees in municipal retirement and insurance programs; employees not civil service employees. |
| Section 125.1780 | Section | Board; powers; duties; preparation of water resource management plan; consultation with certain entities. |
| Section 125.1780.amended | Section | Board; powers; duties; preparation of water resource management plan; consultation with certain entities; application for state and federal permits. |
| Section 125.1781 | Section | Authority as instrumentality of political subdivision. |
| Section 125.1782 | Section | Financing sources; disposition of money received. |
| Section 125.1783 | Section | Borrowing money and issuing bonds. |
| Section 125.1784 | Section | Borrowing money and issuing bonds or notes; security; pledge; lien; exemption of bonds or notes from taxation; municipality not liable on bonds and notes of authority; statement; investment; deposit. |
| Section 125.1785 | Section | Tax increment financing plan; preparation and submission; development plan; statement of estimated impact; approval; notice, hearing, and disclosure provisions; modification; exempting taxes from capture; resolution. |
| Section 125.1786 | Section | Transmission of tax increment revenues to authority; expenditures; terms; reversion of unused funds; abolishment of plan; conditions; status report on tax increment financing account. |
| Section 125.1787 | Section | Authorization, issuance, and sale of tax increment bonds. |
| Section 125.1788 | Section | Development plan; contents. |
| Section 125.1789 | Section | Development plan or tax increment financing plan; adoption of ordinance; notice of public hearing; purpose of public hearing. |
| Section 125.1790 | Section | Determination of public purpose; approval or rejection of plan; modifications; considerations. |
| Section 125.1791 | Section | Operation of authority; budget; review by board; submission to governing body; adoption; cost of handling and auditing funds. |
| Section 125.1792 | Section | Dissolution of authority. |
| Section 125.1793 | Section | Enforcement of act; rules. |
| Section 125.1794 | Section | Prohibition. |
