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Michigan Legislature
Michigan Compiled Laws Complete Through PA 123 of 2019
House: Adjourned until Thursday, December 19, 2019 11:30:00 AM
Senate: Adjourned until Thursday, December 19, 2019 11:30:00 AM


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57-2018-7
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RECODIFIED TAX INCREMENT FINANCING ACT (EXCERPT)
Act 57 of 2018
PART 7
WATER RESOURCE IMPROVEMENT AUTHORITIES

DocumentTypeDescription
Section 125.4702SectionDefinitions; A to M.
Section 125.4703SectionDefinitions; O to W.
Section 125.4704SectionEstablishment of multiple authorities; powers.
Section 125.4705SectionIntent 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 125.4706SectionAnnexation or consolidation.
Section 125.4707SectionBoard; 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 125.4708SectionDirector; compensation; service; oath; bond; duties; acting director; treasurer; secretary; legal counsel; duties; other personnel.
Section 125.4709SectionParticipation of employees in municipal retirement and insurance programs; employees not civil service employees.
Section 125.4710SectionBoard; powers; duties; preparation of water resource management plan; consultation with certain entities; application for state and federal permits.
Section 125.4711SectionAuthority as instrumentality of political subdivision.
Section 125.4712SectionFinancing sources; disposition of money received.
Section 125.4713SectionBorrowing money and issuing bonds.
Section 125.4714SectionBorrowing 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 125.4715SectionTax increment financing plan; preparation and submission; development plan; statement of estimated impact; approval; notice, hearing, and disclosure provisions; modification; exempting taxes from capture; resolution; action of library board or commission.
Section 125.4716SectionTransmission of tax increment revenues to authority; expenditures; terms; reversion of unused funds; abolishment of plan; conditions.
Section 125.4717SectionAuthorization, issuance, and sale of tax increment bonds.
Section 125.4718SectionDevelopment plan; contents.
Section 125.4719SectionDevelopment plan or tax increment financing plan; adoption of ordinance; notice of public hearing; purpose of public hearing.
Section 125.4720SectionDetermination of public purpose; approval or rejection of plan; modification; considerations.
Section 125.4721SectionOperation of authority; budget; review by board; submission to governing body; adoption; cost of handling and auditing funds.
Section 125.4722SectionDissolution of authority.
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