HOUSE BILL No. 5667

 

May 23, 2012, Introduced by Reps. Haveman, Roy Schmidt, Lyons, Price, MacGregor, Crawford, Heise, Yonker, Wayne Schmidt, Haugh, Shaughnessy, Kowall, Foster, Dillon and Howze and referred to the Committee on Local, Intergovernmental, and Regional Affairs.

 

     A bill to provide for the creation, operation, and dissolution

 

of neighborhood enhancement districts within certain local units of

 

government; to provide for neighborhood improvement and enhancement

 

projects; to provide for levying, collecting, and disbursement of a

 

special assessment against benefited parcels; to provide for the

 

issuance of bonds and other obligations; to provide for creating and

 

approving certain plans; and to provide for establishing advisory

 

boards.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 1. This act shall be known and may be cited as the

 

"neighborhood enhancement act".

 

     Sec. 2. As used in this act:

 

     (a) "Assessable property" means real property in a district

 

that is not exempt from special assessment under applicable federal

 


or state law or by another provision in this act and any parcel of

 

property that is exempt from special assessment under applicable

 

federal or state law or by another provision in this act but for

 

which the property owner who owns the property at the time the

 

special assessment is levied has consented in writing to the levy

 

of the special assessment.

 

     (b) "Assessment" means an assessment imposed under this act

 

against assessable property.

 

     (c) "Assessment revenues" means the funds collected from

 

assessments levied within a district under this act, including any

 

interest on the assessments.

 

     (d) "Blighted" means that term as described in section 2 of

 

the brownfield redevelopment financing act, 1996 PA 381, MCL

 

125.2652.

 

     (e) "Chief administrative officer" means the manager or

 

administrator of a city or village in a city or village that has a

 

manager or administrator, or the mayor or village president in a

 

city or village that does not have a manager or administrator, or

 

the person designated by that chief administrative officer.

 

     (f) "District plan" means a written plan meeting the

 

requirements of section 5 that is approved by resolution of the

 

governing body of the city or village in which the district is

 

located.

 

     (g) "Governing body" means the governing body of a city or

 

village in which a district is located or proposed.

 

     (h) "Neighborhood district" or "district" means the area

 

designated in a resolution adopted by the governing body of the

 


city or village as the area to be served by the projects to be

 

undertaken pursuant to a district plan.

 

     (i) "Person" means an individual, partnership, corporation,

 

limited liability company, association, or other legal entity.

 

     (j) "Property owner" means the record legal title holder, or

 

an agent authorized by the record legal title holder, of assessable

 

property according to the property tax records of the treasurer of

 

the city or village in which the district is located.

 

     Sec. 3. The governing body of a city or village may establish

 

1 or more districts within its jurisdictional boundaries as

 

follows:

 

     (a) The creation of a district may be initiated as follows:

 

     (i) The governing body may initiate the creation of a district

 

by adopting a resolution of intent to create a district.

 

     (ii) Alternatively, the property owners who own at least 51% of

 

the assessable property within the district as ultimately

 

determined may file a petition with the clerk of the city or

 

village in which the proposed district is located to initiate the

 

creation of a district and, if the governing body determines that

 

the creation of a district is in the best interests of the property

 

owners of property within the proposed district and those residing

 

in the proposed district, the governing body may then adopt a

 

resolution of intent to create a district.

 

     (b) The resolution of intent to create a district shall

 

specify the proposed boundaries of the district, state the purpose

 

of the proposed district including the work to be done or the

 

projects to be undertaken within the proposed district, provide

 


estimates of the costs of the work to be done and the projects to

 

be undertaken in the proposed district, and set the date, time, and

 

place of a public hearing to be held on the creation of the

 

district.

 

     (c) The clerk of the city or village shall give written notice

 

of the date, time, place, and purpose of the public hearing,

 

together with a drawing showing the boundaries of the proposed

 

district, by publication in a newspaper of general circulation in

 

the city or village at least 14 days prior to the date of the

 

hearing, by mailing by first-class mail to the property owners of

 

property within the proposed district, and, if the city or village

 

has a website, by posting on the city's or village's website. Any

 

notice given by mail may rely upon the last city or village tax

 

assessment records. The method of giving notice by mail as provided

 

in this section is declared to be the method that is reasonably

 

certain to inform those to be notified of the pending proceedings.

 

     (d) At the public hearing, the governing body shall hear

 

anyone wishing to speak on the creation of the proposed district

 

and shall receive any written statements, documents, or other

 

information regarding the creation of the proposed district.

 

     (e) If, prior to the close of the public hearing concerning

 

the proposed creation of a district, written objections to the

 

creation of the proposed district are filed by the property owners

 

of at least 30% of the assessable property in the district as it is

 

finally determined, the governing body shall not proceed to create

 

the district until petitions supporting the creation of the

 

district meeting the signature requirements of subdivision (a)(ii)

 


are filed with the clerk of the city or village in which the

 

district is located.

 

     (f) After the public hearing held as required in subdivision

 

(d) and subject to the requirements of subdivisions (e) and (g),

 

the governing body may by resolution approved by a majority of its

 

members create a district. The resolution shall include a

 

description of and drawing depicting the district boundaries, a

 

list of the addresses and parcel numbers for each parcel included

 

in the district, and the purpose for which the district is created.

 

     (g) Property shall not be added to the district unless notice

 

is given as provided in subdivision (c), or by personal service to

 

the property owners of the property in the entire proposed

 

district, and a hearing afforded to the property owners. If a

 

petition is required because property is added to the district

 

which makes the original petition insufficient, then a supplemental

 

petition shall be filed containing sufficient additional signatures

 

of property owners.

 

     (h) The resolution adopted as provided in subdivision (f) may

 

also create the district advisory board as provided in section 4

 

and may also direct the preparation of a proposed district plan as

 

provided in section 5.

 

     Sec. 4. (1) After creating a district, the governing body

 

shall form a district advisory board.

 

     (2) A district advisory board shall consist of not fewer than

 

5 or more than 9 persons appointed by the chief administrative

 

officer with the consent of the governing body who are property

 

owners or representatives of property owners of assessable property

 


within the district or are residents of the district. At least 3

 

members of the district advisory board shall be residents of the

 

district. Alternatively, the governing body may designate the

 

governing board of a neighborhood association as the district

 

advisory board if the district is entirely located within the

 

neighborhood area of the neighborhood association.

 

     (3) Meetings of the district advisory board shall be conducted

 

in compliance with the open meetings act, 1976 PA 267, MCL 15.261

 

to 15.275, and records of a district advisory board are public

 

records under the freedom of information act, 1976 PA 442, MCL

 

15.231 to 15.246.

 

     Sec. 5. (1) The district advisory board shall prepare or cause

 

to be prepared a district plan.

 

     (2) A district plan shall include the district boundaries, the

 

activities and projects for the benefit and enhancement of a

 

district, together with cost estimates, proposed methods of

 

financing each activity and project, and timetables for undertaking

 

each activity and project.

 

     (3) If included in the district plan approved as provided in

 

this act, a city or village may engage in or undertake the

 

following activities and projects within a district:

 

     (a) Acquire real property for parks and acquire, construct,

 

install, improve, and maintain park improvements and recreational

 

facilities.

 

     (b) Acquire, improve, and maintain rights-of-way including

 

streets, sidewalks, alleys, snow-melt systems, and other

 

improvements.

 


     (c) Acquire, improve, and maintain other public open areas

 

such as plazas, gathering places, pavilions, shelters,

 

amphitheaters, and other improvements and amenities.

 

     (d) Acquire, construct, install, maintain, and improve street

 

lighting improvements.

 

     (e) Demolish abandoned, dilapidated, blighted, or

 

nonconforming structures.

 

     (f) Provide enhanced public safety or security services that

 

may include additional policing, installation of surveillance

 

technology, and other work.

 

     (g) Provide enhanced code enforcement services.

 

     (h) Make and maintain landscaping improvements in public

 

areas, parks, and rights-of-way.

 

     (i) Operate or sponsor recreational programs and operate

 

recreational facilities.

 

     (j) Engage in promotional or marketing activities.

 

     (k) Provide enhanced signage.

 

     (l) Acquire property for, and make and maintain, parking

 

improvements.

 

     (m) Undertake studies and planning.

 

     (n) Provide enhanced broadband or other telecommunications

 

services.

 

     (o) Create and finance the implementation of neighborhood

 

architectural or other themes.

 

     (p) Engage in neighborhood organizational activities.

 

     (4) A district plan shall provide a termination date.

 

     (5) If a district plan will be financed in whole or in part by

 


levying special assessments pursuant to this act, the district plan

 

shall include the proposed special assessment roll, an explanation

 

of the special assessment methodology, the number of special

 

assessment installments, the interest rate to be charged on

 

installments, and the procedure, if any, that is available to

 

persons for whom paying the special assessment would constitute a

 

hardship.

 

     (6) If a district plan will be financed in whole or in part by

 

the issuance of bonds in anticipation of the levy of special

 

assessments, the district plan shall detail the amount of the bond

 

issue, including the anticipated professional service fees and

 

other issuance costs.

 

     (7) A plan may include as activity and project costs the

 

following:

 

     (a) Amounts to be paid to contractors, subcontractors,

 

consultants, planners, attorneys, financial advisors, surveyors,

 

architects, engineers, and other professionals.

 

     (b) Amounts to be paid to the city or village for special,

 

enhanced, or additional services to the district that are not

 

provided to others in the city or village.

 

     (c) Amounts for the acquisition, leasing, construction,

 

installation, demolition, alteration, maintenance, repair,

 

replacement, operation, use, or improvement of real or personal

 

property in the district.

 

     (d) Reimbursement of the city or village for administrative,

 

oversight, and other costs it incurs that are attributable to the

 

district and the planning and implementation of projects and

 


activities in the district.

 

     (e) Any other costs paid for any activity or project permitted

 

under this act.

 

     (8) If the nature of the activity or project is such that a

 

periodic redetermination of costs will be necessary without a

 

change in the district boundaries, the district plan shall include

 

in its estimate of costs any projected incremental increases. If at

 

any time during the term of the district plan an actual incremental

 

cost increase exceeds the estimate therefor by 10% or more, notice

 

shall be given as provided in section 6(c) and a hearing afforded

 

to the property owners of property to be assessed.

 

     (9) A district plan may be amended or extended for a period

 

not to exceed 7 years or the useful life of any capital

 

improvements to be made pursuant to the plan in the same manner as

 

it was first approved.

 

     Sec. 6. A district plan may be approved in the following

 

manner:

 

     (a) The district advisory board shall make a recommendation

 

regarding any proposed district plan. A governing body shall not

 

consider a proposed district plan until the district advisory board

 

recommends the adoption of the proposed district plan.

 

     (b) After receiving the recommendation of the district

 

advisory board, the governing body shall set the date, time, and

 

place of a public hearing to be held on the approval of the

 

district plan.

 

     (c) The clerk of the city or village shall give written notice

 

of the date, time, place, and purpose of the public hearing,

 


together with a drawing showing the boundaries of the district and,

 

if any parcels are to be specially assessed, a list by addresses

 

and parcel number of the parcels to be specially assessed, by

 

publication in a newspaper of general circulation in the city or

 

village at least 14 days prior to the date of the hearing, by

 

mailing by first-class mail to the property owners of property

 

within the district, and, if the city or village has a website, by

 

posting on the city's or village's website. The notice shall also

 

state that a copy of the entire district plan is available for

 

inspection or copying in the office of the city or village clerk

 

during normal city or village visiting hours. If periodic

 

redeterminations of cost will be necessary, the notice shall state

 

that those redeterminations may be made without further notice to

 

property owners. Any notice given by mail may rely upon the last

 

city or village tax assessment records. The method of giving notice

 

by mail as provided in this section is declared to be the method

 

that is reasonably certain to inform those to be notified of the

 

pending proceedings. Failure to give notice as required in this

 

subdivision shall not invalidate an entire special assessment roll,

 

but only the assessment on property affected by the lack of notice.

 

A special assessment shall not be declared invalid as to any

 

property if the property owner actually received notice, waived

 

notice, or paid any part of the special assessment. If an

 

assessment is declared void by court or Michigan tax tribunal

 

decree or judgment, a reassessment against the property may be

 

made.

 

     (d) At the public hearing the governing body shall hear anyone

 


wishing to speak regarding the proposed district plan and shall

 

receive any written statements, documents, or other information

 

regarding the proposed district plan.

 

     (e) If, prior to the close of the public hearing concerning

 

the district plan, written objections to the district plan are

 

filed by the property owners of at least 30% of the assessable

 

property in the district, the approval the district plan shall be

 

approved only by a 2/3 vote of the members of the governing body.

 

     (f) A governing body may, prior to approving a district plan,

 

modify the plan as it deems necessary or advisable after

 

considering the recommendations of the district advisory board and

 

information provided as the public hearing. However, if any

 

modification will result in the increase of any special assessment

 

levied against any parcel by 10% or more, notice shall be given as

 

provided in subdivision (b) and a hearing afforded to the property

 

owners of property to be assessed.

 

     (g) Except as provided in subdivision (e), after the public

 

hearing held as required subdivision (d), the governing body may by

 

resolution approved by a majority of its members approve the

 

district plan.

 

     (h) A city or village may take all steps necessary to

 

implement an approved district plan. In its resolution approving a

 

district plan or by a subsequent resolution, a governing body may

 

delegate part or all of the implementation of an approved district

 

plan to the district advisory board.

 

     Sec. 7. A city or village may fund activities and projects in

 

a district from the following sources:

 


     (a) Funds of the city or village that the governing body

 

budgets for that purpose.

 

     (b) Federal, state, or private grants.

 

     (c) Gifts and donations from individuals or entities.

 

     (d) Fees or rents for services or the use of real or personal

 

property owned by the city or village within the district.

 

     (e) Special assessments levied against assessable property

 

within the district in accordance with section 8.

 

     (f) For capital improvement projects, the issuance of bonds in

 

anticipation of the collection of special assessments levied

 

pursuant to section 8.

 

     Sec. 8. (1) The city or village may specially assess

 

assessable property within the district for costs of activities or

 

projects within the district.

 

     (2) The special assessment roll shall be prepared by the chief

 

administrative officer of the city or village and included as part

 

of the district plan.

 

     (3) The hearing on a proposed district plan shall constitute

 

the hearing on a proposed special assessment roll that is part of

 

the district plan. Approval of a district plan shall constitute

 

confirmation of a special assessment roll that is part of the

 

district plan. After the governing body's approval of a district

 

plan, all special assessments on a special assessment roll that is

 

part of the district plan shall be final and conclusive unless an

 

action contesting an assessment is filed in the Michigan tax

 

tribunal or a court of competent jurisdiction within 30 days after

 

the date of the approval of the district plan.

 


     (4) An assessment roll that is part of a district plan shall

 

list by address and parcel number all of the parcels of land within

 

the district, the names of the property owners of each parcel, an

 

identification as to whether each parcel is assessable property,

 

and the total amount to be assessed against each parcel of land.

 

The amount to be assessed against an assessable parcel shall be the

 

relative portion of the whole sum to be levied against all parcels

 

of land in the special assessment district as the benefit to the

 

parcel of land bears to the total benefit to all parcels of land in

 

the special assessment district. If it is determined that all or

 

any portion of a special assessment should be levied based on the

 

value of the assessable property being assessed, that assessment or

 

portion of the assessment shall be based on the taxable value of

 

the property as determined under section 27a of the general

 

property tax act, 1893 PA 206, MCL 211.27a.

 

     (5) A parcel of land within a district that has been specially

 

assessed for any other improvement or activity, which prior special

 

assessment has not been fully paid but no payments of which prior

 

special assessment are delinquent, shall be exempt from payment of

 

any special assessment installment due under this act for any year

 

in which that prior special assessment has not been fully paid but

 

no payments of that prior special assessment are delinquent. This

 

exemption does not apply to a special assessment made against any

 

parcel of land for failure to comply with requirements of any

 

federal or state law or local ordinance requirement.

 

     (6) A parcel of land within a district against which a millage

 

has been levied by a downtown development authority pursuant to

 


section 12 of 1975 PA 197, MCL 125.1662, shall be exempt from

 

payment of any special assessment installment due under this act

 

for any year in which that millage levy is made against that parcel

 

of land.

 

     (7) Except for capital expenditures, any special assessment or

 

installments approved pursuant to this act shall not exceed 7 years

 

in duration. Special assessments and special assessment

 

installments for capital expenditures shall not exceed the useful

 

life of the acquisition or other capital improvement.

 

     (8) The governing body may provide that special assessments

 

are payable in 1 or more installments, but the amount of an

 

installment shall not be less than 1/2 of the amount of any

 

subsequent installment. The amount of each installment, if more

 

than 1, need not be extended upon the special assessment roll until

 

after approval of the district plan. Subject to the provisions of

 

section 6(f), the amount of installments for activities or projects

 

subject to periodic cost revision may be extended upon the special

 

assessment roll by the governing body without additional public

 

hearings or public notice. The first installment of a special

 

assessment shall be due on or before the time after approval of the

 

district plan as the governing body shall fix. Subsequent

 

installments shall be due at intervals of 12 months from the due

 

date of the first installment or from a date the governing body

 

shall fix.

 

     (9) All installments shall include interest on the unpaid

 

principal amount of the special assessment, payable annually on

 

each installment due date, at a rate to be set by the governing

 


body, not exceeding 1% above the average rate of interest borne by

 

special assessment bonds issued by the city or village in

 

anticipation of all or part of the unpaid installments, or, if

 

bonds are not issued by the township, a county, a drainage

 

district, or an authority, not exceeding 8% per annum, commencing

 

in each case from a date fixed by the governing body. Future due

 

installments of an assessment against any parcel of land may be

 

paid to the city or village treasurer at any time in full, with

 

interest accrued through the month in which the final installment

 

is paid.

 

     (10) If an installment of a special assessment is not paid

 

when due, then the installment shall be considered to be delinquent

 

and there shall be collected, in addition to interest as provided

 

by this section, a penalty at the rate of not more than 1% for each

 

month, or fraction of a month, that the installment remains unpaid

 

before being reported to the governing body for reassessment upon

 

the city or village tax roll.

 

     (11) All special assessments, including any part of the

 

special assessment deferred as to payment, shall from the date of

 

approval of the district plan constitute a lien upon the respective

 

parcels of land assessed. That lien shall be of the same character

 

and effect as the lien created for city or village ad valorem

 

property taxes and shall include accrued interest and penalties.

 

     (12) The approval of a district plan shall constitute

 

direction that any special assessments that are part of the

 

district plan be collected. The city or village clerk shall deliver

 

to the city or village treasurer that special assessment roll, to

 


which the clerk shall attach the clerk's warrant commanding the

 

treasurer to collect the special assessments in accordance with the

 

governing body's directions. That warrant shall further require the

 

treasurer, 90 days before the date on which the city or village

 

sends its ad valorem property tax bills, to submit to the governing

 

body a sworn statement setting forth the addresses, parcel numbers,

 

and property owners of the assessable property for which special

 

assessment installments are delinquent and the amount of the

 

delinquency, including accrued interest and penalties computed to

 

the date 90 days before the date on which the tax bills are sent.

 

Upon receiving the special assessment roll and warrant, the

 

treasurer shall proceed to collect the special assessments as they

 

become due.

 

     (13) A property owner who by reason of hardship is unable to

 

pay a special assessment installment may have the assessment

 

deferred by application to the city or village treasurer. Upon

 

receipt of evidence of hardship, the city or village may defer

 

partial or total payment of the special assessment installment. The

 

governing body may adopt an ordinance to define hardship and to

 

permit deferred or partial payment of a special assessment

 

installment. As a condition of granting the deferred or partial

 

payment of a special assessment installment, the governing body

 

shall require that any deferred special assessment installment

 

constitute a recorded lien against the property.

 

     (14) If the city or village treasurer reports as delinquent

 

any special assessment installment or part of the special

 

assessment installment, the governing body shall certify the same

 


to the city or village assessor, who shall reassess on the annual

 

city or village tax roll of the year in a column headed "special

 

assessments" the delinquent sum, with interest and penalties to 90

 

days before the date of sending the tax bills that year, and an

 

additional penalty of 6% of the total amount. Thereafter the laws,

 

charter provisions, and ordinances relating to city or village ad

 

valorem property taxes shall be applicable to the reassessments.

 

     (15) If any parcel of land is divided after a district plan is

 

approved that includes a special assessment against that parcel,

 

but before the collection of that special assessment, the chief

 

administrative officer shall apportion the uncollected amounts

 

among the several divisions, and the report of the apportionment

 

shall be, unless appealed in writing by any party within 14 days of

 

the date of notice of the apportionment to the governing body,

 

conclusive upon all parties. The chief administrative officer shall

 

send a written notice of the apportionment to the parties at the

 

addresses as are on the city or village tax records or as provided

 

in writing to the chief administrative officer. If an appeal is

 

made, the governing body shall hold a public hearing providing at

 

least 14 days' notice by first-class mail of the date, time, and

 

place of the public hearing. After the public hearing, the

 

apportionment made by the governing body shall be conclusive upon

 

all parties.

 

     (16) If the special assessments that are part of a district

 

plan prove insufficient for any reason, including the

 

noncollection, to pay for principal and interest on the bonds

 

issued in anticipation of the collection of the special assessment,

 


then the governing body shall make additional pro rata assessments

 

to supply the deficiency, but the total amount assessed against any

 

parcel of land shall not exceed the value of the benefits received

 

from the improvement. Should the total amount collected on

 

assessments prove larger than necessary by more than 5% of the

 

original special assessment roll approved as part of a district

 

plan, then the surplus shall be prorated among the properties

 

assessed in accordance with the amount assessed against each and

 

applied toward the payment of the next city or village tax levied

 

against the properties, respectively, or, if there be no such tax,

 

then it shall be refunded to the persons who are the property

 

owners of the properties on the date of the passage of the

 

governing body's resolution ordering such refund. Any surplus of 5%

 

or less may be used to fund other activities or projects benefiting

 

the district.

 

     (17) If any special assessment is, in the opinion of the

 

governing body, invalid by reason of irregularities or

 

informalities in the proceedings, or if the Michigan tax tribunal

 

or any court of competent jurisdiction shall adjudge any special

 

assessment to be illegal, the governing body shall, whether the

 

activity or project has been undertaken or not and whether any part

 

of the special assessment has been paid or not, have power to

 

proceed from the last step at which the proceedings were legal and

 

cause a new special assessment to be made for the same purpose for

 

which the former special assessment was made. All proceedings on

 

the reassessment and its collection shall be conducted in the same

 

manner as provided for the original assessment, and whenever an

 


assessment or any part a special assessment levied upon any

 

premises has been so set aside, if that special assessment has been

 

paid and not refunded, the payment so made shall be applied to the

 

reassessment.

 

     (18) Any public or private entity whose property in a district

 

is exempt by law from special assessment may agree to pay the

 

special assessments against that property and, if it does so, the

 

special assessment, including all installments, shall be a valid

 

claim against that entity and a valid lien upon that property.

 

     Sec. 9. A city or village by resolution of its governing body

 

adopted after the district plan is approved may borrow money and

 

issue the bonds of the city or village in anticipation of the

 

collection of special assessments levied pursuant to an approved

 

district plan to defray all or any part of the cost of any capital

 

improvement made under this act. Bonds issued under this section

 

shall not exceed the amount of the special assessments in

 

anticipation of the collection of which they are issued. Bonds may

 

be issued in anticipation of the collection of special assessments

 

levied in respect to 1 or more public improvements, but no district

 

shall be compelled to pay the obligation of any other district. The

 

city or village may pledge its full faith and credit for the prompt

 

payment of the principal of and interest on the bonds authorized

 

under this section. The issuance of bonds under this section is

 

subject to the revised municipal finance act, 2001 PA 34, MCL

 

141.2101 to 141.2821.

 

     Sec. 10. (1) If a governing body does not wish to issue bonds

 

to fund a capital improvements within a district, as an alternative

 


method of funding the cost of a capital improvement made within a

 

district under this act, after a district plan that includes a

 

special assessment roll is approved, the city or village may

 

advance the cost of the capital improvement from a city or village

 

neighborhood enhancement district revolving fund. The amount

 

advanced shall not exceed the amount that the governing body

 

anticipates will be collected by the special assessments. The

 

amount advanced by the city or village shall bear interest at a

 

rate not exceeding 6% per annum. Repayment of the advancements can

 

be made from special assessments or installments of special

 

assessments levied against the assessable property in the benefited

 

district.

 

     (2) The governing body by resolution may create and designate

 

a fund to be known as the neighborhood enhancement district

 

revolving fund to be initially funded by the transfer of the city

 

or village funds as the governing body shall designate. The

 

governing body may transfer funds from the neighborhood enhancement

 

district revolving fund to the fund from which they were originally

 

transferred, together with interest earned on such funds, when in

 

the judgment of the governing body funds should be transferred.

 

     Sec. 11. The powers granted in this act may be exercised by

 

any city or village and shall be in addition to the powers granted

 

by any other statute. However, the powers granted by this act are

 

those expressly provided in this act and do not include any

 

incidental or implied powers.

 

     Sec. 12. Interest earned from the investment of money

 

collected under a special assessment levied under this act or of

 


money received as bond proceeds from a bond issued under this act,

 

or money from interest or penalties charged and collected on an

 

unpaid special assessment under this act, shall only be used for

 

the following:

 

     (a) To pay for the activity or project for which the special

 

assessment is levied.

 

     (b) To pay the principal and interest of bonds that are issued

 

for the capital improvement for which the special assessment is

 

levied.

 

     (c) To pay the principal and interest of an advance from the

 

city or village made pursuant to section 10.

 

     Sec. 13. A city or village exercising any powers under this

 

act shall publish an annual activity and financial report that, at

 

a minimum, details by district the activities and projects within

 

the district, the amounts of any specials assessments or other

 

funds that are collected, the uses of the special assessments and

 

other funds, and the amounts of all expenditures. The report or

 

links to the report shall be posted on the city or village website,

 

if any, and notice of the availability of the report shall be sent

 

to all property owners of property within a district.

 

     Sec. 14. Revenues collected and expenditures made under this

 

act shall be audited for each district within the city or village

 

as part of the annual audit of the city or village required to be

 

made by law.