Michigan Laws 125.2621 – Corporation; powers and duties
Current as of: 2023 | Check for updates
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(1) The corporation has the powers and duties to do all of the following:
(a) Coordinate, review, recommend prioritization of, monitor, and evaluate the programs of the agencies implementing the strategic plan to ensure the achievement of benchmarks and timetables as detailed in that strategic plan.
Terms Used In Michigan Laws 125.2621
- Chief executive officer: means the mayor or city manager of a city, the president of a village, the supervisor of a township, or the county executive of a county or, if a county does not have a county executive, the chairperson of the county board of commissioners. See Michigan Laws 125.2605
- Corporation: means an enterprise community development corporation organized under this act. See Michigan Laws 125.2605
- 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.
- Governing body: means the body in which the legislative powers of a municipality are vested. See Michigan Laws 125.2605
- 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
- Municipality: means a county, city, village, or township. See Michigan Laws 125.2605
- Personal property: All property that is not real property.
- Strategic plan: means a plan agreed to by this state and a municipality concerning an enterprise community that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an enterprise community under applicable federal regulations. See Michigan Laws 125.2605
(b) Solicit and accept gifts, donations, in-kind services, grants, loans, appropriations, or other money from a federal, state, local, or private source for operating expenses.
(c) Acquire, hold, lease, or dispose of real or personal property necessary or convenient to accomplish the purposes of this act.
(d) Procure the director’s bond and liability insurance that are prescribed by an ordinance of the municipality.
(e) Submit to the chief executive officer and the governing body of the municipality periodic progress, financial, and performance reviews, and other reports considered necessary by the chief executive officer and the governing body of the municipality. These reports shall be made available to the public by the municipality upon request.
(f) With the concurrence of the municipality by its governing body and chief executive officer, modify the strategic plan, except as precluded by federal, state, or local law.
(g) Possess all other powers necessary and appropriate that are not inconsistent with federal, state, or local law to coordinate, review, recommend prioritization of, monitor, and evaluate the programs of the agencies implementing the strategic plan as detailed in that strategic plan.
(2) The municipality may assign by ordinance to the corporation additional powers and duties to the extent not prohibited by state law.