Michigan Laws 125.4302 – Authority; establishment; public body corporate; powers generally
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 125.4302
- Authority: means a tax increment finance authority created under this part. See Michigan Laws 125.4301
- Municipality: means a city. See Michigan Laws 125.4301
- state: 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) A municipality may establish not more than 1 authority. An authority shall exercise its powers in all development areas designated pursuant to this part.
(2) The authority shall be a public body corporate which may sue and be sued in any court of this state. The authority possesses all the powers necessary to carry out the purpose of its incorporation. The enumeration of a power in this part shall not be construed as a limitation upon the general powers of the authority. The powers granted in this part to an authority may be exercised notwithstanding that bonds are not issued by the authority.