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Act 31 of 1948 (1st Ex. Sess.)
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BUILDING AUTHORITIES

Act 31 of 1948 (1st Ex. Sess.)

AN ACT to provide for the incorporation of authorities to acquire, furnish, equip, own, improve, enlarge, operate, and maintain buildings, automobile parking lots or structures, transit-oriented developments, transit-oriented facilities, recreational facilities, stadiums, and the necessary site or sites therefor, together with appurtenant properties and facilities necessary or convenient for the effective use thereof, for the use of any county, city, village, or township, or for the use of any combination of 2 or more counties, cities, villages, or townships, or for the use of any school district and any city, village, or township wholly or partially within the district's boundaries, or for the use of any school district and any combination of 2 or more cities, villages, or townships wholly or partially within the district's boundaries, or for the use of any intermediate school district and any constituent school district or any city, village, or township, wholly or partially within the intermediate school district's boundaries; to provide for compensation of authority commissioners; to permit transfers of property to authorities; to authorize the execution of contracts, leases, and subleases pertaining to authority property and the use of authority property; to authorize incorporating units to impose taxes without limitation as to rate or amount and to pledge their full faith and credit for the payment of contract of lease obligations in anticipation of which bonds are issued by an authority; to provide for the issuance of bonds by such authorities; to validate action taken and bonds issued; to provide other powers, rights, and duties of authorities and incorporating units, including those for the disposal of authority property; and to prescribe penalties and provide remedies.


History: 1948, 1st Ex. Sess., Act 31, Imd. Eff. May 10, 1948 ;-- Am. 1955, Act 25, Imd. Eff. Apr. 7, 1955 ;-- Am. 1964, Act 41, Imd. Eff. May 6, 1964 ;-- Am. 1967, Act 200, Imd. Eff. June 30, 1967 ;-- Am. 1968, Act 96, Imd. Eff. June 6, 1968 ;-- Am. 1969, Act 46, Imd. Eff. July 17, 1969 ;-- Am. 1970, Act 47, Imd. Eff. July 2, 1970 ;-- Am. 1973, Act 110, Imd. Eff. Aug. 19, 1973 ;-- Am. 1995, Act 147, Imd. Eff. July 11, 1995 ;-- Am. 1998, Act 190, Eff. Mar. 23, 1999 ;-- Am. 2010, Act 243, Imd. Eff. Dec. 14, 2010


© 2009 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 123.951SectionLocal building authorities; incorporation; purposes; "transit-oriented development" and "transit-oriented facility" defined.
Section 123.952SectionJoint buildings and parking lots; authorities; incorporation; purposes.
Section 123.952aSectionJoint buildings and parking lots of school districts and municipalities; authorities; incorporation; acquisition; operation; maintenance; use.
Section 123.952bSectionPublic buildings used for disabled, developmentally disabled, or mentally disturbed children; constituent school districts and intermediate school districts; authority; purpose; contract.
Section 123.953SectionIncorporating unit; definition.
Section 123.954SectionIncorporation of authority; procedure.
Section 123.955SectionCounty and municipal building authority; articles of incorporation; contents; eligibility of governing body member for membership or appointment.
Section 123.955aSectionJoint building authority; commissioners; election and terms of members; chairperson; secretary; bylaws and rules of procedure; elected official as member; conducting business at public meeting; notice of meeting.
Section 123.955bSectionBoard of commissioners; compensation, per diem, mileage.
Section 123.956SectionArticles of incorporation; publication; statement; filing; effective date; presumption.
Section 123.957SectionBuilding authority; body corporate; powers.
Section 123.958SectionContracts to acquire property; leases and subleases; acquisitions constituting public purpose; stadiums.
Section 123.958aSectionAgreement in contract of lease to pay cash rental, costs, and expenses; general obligations; tax levy; other funds; setoff or abatement of cash rentals.
Section 123.958bSectionContract of lease; full faith and credit general obligation; resolution submitting contract to vote of electors; effective date; notice of intention; referendum petition; election.
Section 123.958b.amendedSectionContract of lease; full faith and credit general obligation; resolution submitting contract to vote of electors; effective date; notice of intention; referendum petition; election.
Section 123.958cSectionViolation of MCL 168.1 to 168.992 applicable to petitions; penalties.
Section 123.959SectionBuilding authority; acquisition of property, condemnation.
Section 123.960SectionAmendment of articles of incorporation.
Section 123.961SectionBuilding authority bonds or building authority refunding bonds; purpose; conditions; issuance of negotiable bonds to make cash rental payments.
Section 123.961aSectionBuilding authority revenue bonds or building authority revenue refunding bonds; purpose; prerequisites of issuance.
Section 123.961bSectionOrdinance or resolution authorizing issuance of bonds; adoption; contents.
Section 123.961cSectionRepealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.961dSectionBonds; statutory lien.
Section 123.961eSectionBonds; use and disposition of proceeds.
Section 123.961fSectionAdditional bonds.
Section 123.961gSectionBond and interest redemption fund.
Section 123.961hSectionRedemption of bonds prior to maturity.
Section 123.961iSectionRepealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.961jSectionBonds subject to revised municipal finance act; tax exemption.
Section 123.961kSectionRepealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Section 123.962SectionTax exemption for property.
Section 123.963SectionBonds; retirement; conveyance of title to property.
Section 123.964SectionConstruction of act.
Section 123.965SectionValidation of prior authorities, actions, and bonds.