A contract under this act shall provide for the following:
  (a) The length of the contract.

Terms Used In Michigan Laws 124.27

  • Contract: A legal written agreement that becomes binding when signed.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Local unit: means a city, township, or village. See Michigan Laws 124.21
  (b) Specific authorization for the sharing of taxes and any other revenues designated by the local units. The manner and extent to which the taxes and other revenues are shared shall be specifically provided for in the contract.
  (c) Methods by which a participating local unit may enforce the contract including, but not limited to, return of the transferred area to the local unit from which the area was transferred before the expiration date of the contract.
  (d) Which local unit has jurisdiction over the transferred area upon the expiration, termination, or nonrenewal of the contract.
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