Michigan Laws 123.1271 – Authority as public municipal corporation and public body corporate; powers; maintenance of books and records; implementation of best value supply chain and procurement practice
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Terms Used In Michigan Laws 123.1271
- Authority: means a lighting authority incorporated under this act. See Michigan Laws 123.1263
- Best value: means a contract and procurement process to be followed by an authority that encourages and considers bids from locally headquartered companies and that considers use of the local workforce. See Michigan Laws 123.1263
- Board: means the board of directors of an authority. See Michigan Laws 123.1263
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Local government: means a city with a population of more than 600,000. See Michigan Laws 123.1263
- Personal property: All property that is not real property.
- seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nstate: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) An authority is a public municipal corporation. The authority is a public body corporate with the power to sue and be sued in any court of this state. The authority possesses all the powers necessary to carry out the purposes of its incorporation. The enumeration of any powers in this act shall not be construed as a limitation on an authority’s general powers.
(2) An authority may do any of the following:
(a) Adopt bylaws for the regulation of the authority’s affairs and the conducting of its business.
(b) Adopt an official seal and alter the seal at its pleasure.
(c) Maintain an office at a place or places within this state as it may designate.
(d) Sue and be sued in its own name, plead, and be impleaded.
(e) Determine the location of any project constructed by it under this act and determine, in its discretion and without reference to any other provisions of this act or any other law, the design, standards, and the materials of construction, and construct, maintain, repair, and operate the project.
(f) Issue bonds of the authority for any of its corporate purposes under those means as provided in this act.
(g) Adopt and promulgate rules and regulations for the use of any project operated or constructed by it under the provisions of this act.
(h) Acquire, hold, lease, and dispose of real and personal property in the exercise of its powers and the performance of its duties under this act.
(i) Engage engineering, legal, and other professional services as considered necessary to effectuate the purposes of the authority.
(3) The authority shall maintain its books and records and its funds on an enterprise fund basis. An authority shall not pay any net proceeds or profits to its local government, but may pay the local government for services provided.
(4) Following the appointment of the authority board, the board shall implement a best value supply chain and procurement practice and shall annually report to the governing body of the local government.