Michigan Laws 125.2466 – Authority board; powers; establishment and maintenance of office
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(1) The authority board may do 1 or more of the following:
(a) Carry out an improvement.
Terms Used In Michigan Laws 125.2466
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Personal property: All property that is not real property.
(b) Implement a plan of development necessary or desirable to improve blighted areas and promote residential, recreational, or commercial development in the authority district in accordance with the powers of the authority as granted by this act.
(c) Make and enter into a contract necessary or incidental to the exercise of the authority board’s powers and the performance of its duties.
(d) Acquire by purchase, condemnation, or otherwise on terms and conditions and in a manner the authority board considers proper, own, lease as lessor or lessee, convey, demolish, relocate, rehabilitate, or otherwise dispose of real or personal property, or rights or interests in the property, and grant or acquire a license, easement, or option with respect to the property as the authority board determines is reasonably necessary to achieve the purposes of this act. The state treasurer shall exercise the power of condemnation on behalf of the authority board pursuant to the uniform condemnation procedures act, Act No. 87 of the Public Acts of 1980, being section 213.51 to 213.77 of the Michigan Compiled Laws. The state treasurer shall not condemn property located outside the authority district.
(e) Fix, charge, and collect rents, fees, and charges including, but not limited to, tap-in fees and use charges, for the use of property under the authority board’s control or for a service, and pledge the rents, fees, and charges for the payment of revenue bonds issued by the authority pursuant to the revenue bond act, Act No. 94 of the Public Acts of 1933, being section 141.101 to 141.140 of the Michigan Compiled Laws.
(f) Lease a building or property or part of a building or property under the authority board’s control.
(g) Incur costs in connection with the performance of the authority board’s authorized functions including, but not limited to, administrative costs and architectural, engineering, legal, and accounting fees.
(2) The authority board shall maintain an office in the county where the authority district is located. The authority board shall establish the office at its first meeting.