Michigan Laws > Chapter 125 > Act 75 of 1995 – Empowerment Zone Development Corporation Act
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Terms Used In Michigan Laws > Chapter 125 > Act 75 of 1995 - Empowerment Zone Development Corporation Act
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the board of directors of an empowerment zone development corporation. See Michigan Laws 125.2565
- 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 125.2565
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: means an empowerment zone development corporation organized under this act. See Michigan Laws 125.2565
- 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.
- County drain: means any drain, irrespective of size, carrying drainage water or sewage or both originating in 1 county, and includes drains located, established and constructed by a county drain commissioner or drainage board, by a city, village or township. See Michigan Laws 280.461
- county drain commissioner: means the elected county drain commissioner or the person or persons designated to perform the duties of the elected county drain commissioner as provided in section 21 and 21a. See Michigan Laws 280.4
- Director of agriculture: means the director of the state department of agriculture. See Michigan Laws 280.511
- drain: whenever used in this act , shall include the main stream or trunk and all tributaries or branches of any creek or river, any watercourse or ditch, either open or closed, any covered drain, any sanitary or any combined sanitary and storm sewer or storm sewer or conduit composed of tile, brick, concrete, or other material, any structures or mechanical devices, that will properly purify the flow of such drains, any pumping equipment necessary to assist or relieve the flow of such drains and any levee, dike, barrier, or a combination of any or all of same constructed, or proposed to be constructed, for the purpose of drainage or for the purification of the flow of such drains, but shall not include any dam and flowage rights used in connection therewith which is used for the generation of power by a public utility subject to regulation by the public service commission. See Michigan Laws 280.3
- Empowerment zone: means an area designated as an empowerment zone by the United States department of housing and urban development. See Michigan Laws 125.2565
- Empowerment zone coordinating council: means a community-based partnership initiated by the chief executive officer of a municipality with a population of 900,000 or more to do all of the following:
(i) Develop a strategic plan in accordance with 24 C. See Michigan Laws 125.2565Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Escrow: Money given to a third party to be held for payment until certain conditions are met. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Governing body: means the body in which the legislative powers of a municipality are vested. See Michigan Laws 125.2565 Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Intercounty drain: means any drain, irrespective of size, carrying drainage water or sewage originating in more than 1 county, and includes drains located, established and constructed by a county drain commissioner or drainage board, by a city, village or township. See Michigan Laws 280.511 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 Lien: A claim against real or personal property in satisfaction of a debt. month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Municipality: means a county, city, village, or township. See Michigan Laws 125.2565 Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Personal property: All property that is not real property. Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Public corporation: includes this state, counties, cities, villages, townships, metropolitan districts and authorities created by or pursuant to state statutes. See Michigan Laws 280.461 Public corporation: includes this state, counties, cities, villages, townships, metropolitan districts and authorities created by or pursuant to state statutes. See Michigan Laws 280.511 Quorum: The number of legislators that must be present to do business. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. State: means this state. See Michigan Laws 280.511 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 Strategic plan: means a plan agreed to by this state and a municipality concerning an empowerment zone that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an empowerment zone under applicable federal regulations. See Michigan Laws 125.2565Substantial interest: means 1 or more of the following:
(i) Owning real property or a business located in the empowerment zone. See Michigan Laws 125.2565Trustee: A person or institution holding and administering property in trust.