Michigan Compiled Laws Act 185 Of 1956 The Market Authority Act Of 1956 (123.671 - 123.680)

AN ACT to authorize cities to establish market authorities; to provide the powers and duties of such authorities; to provide that such authorities are not tax exempt; to authorize agreements with the United States; and to provide penalties for violations.

History: 1956, Act 185, Imd. Eff. Apr. 24, 1956

Section 123.671 Short Title.
This act shall be known and may be cited as “The market authority act of 1956”. History: 1956, Act 185, Imd. Eff. Apr. 24,
Section 123.672 Market Authority; Construction Of Act.
This act shall be construed as cumulative authority for the exercise of the powers herein granted and shall not be construed to repeal any...
Section 123.673 Market Authority; Establishment; Powers; Areas; “farm Products” Defined; Location; Board Of Directors; Construction, Repair, Or Ornamentation Of Market.
Any city, by ordinance, may establish a market authority, hereinafter also referred to as “the authority”, which shall be a corporate body having the...
Section 123.674 Market Authority; Board Of Directors, Powers.
The board of directors of the market authority shall have the following powers: (1) To acquire by purchase, lease, or otherwise such land or...
Section 123.675 Market Authority; Limitations On Operations.
The following limitations shall govern the operations of the authority and its board of directors: (1) The authority shall be subject to all the...
Section 123.676 Market Authority; Powers.
The authority shall have power: (1) To issue bonds or notes for the purpose of acquiring and constructing markets. Said bonds or notes shall...
Section 123.677 Market Authority; Acquisition Of Property, Market Deemed Public Improvement.
Any authority established under this act may purchase, lease, accept by gift or devise, private property for the public purposes herein set forth and...
Section 123.678 Market Authority; Property Subject To Taxation.
The real and personal property owned by the authority shall be subject to taxation. History: 1956, Act 185, Imd. Eff. Apr. 24, 1956
Section 123.679 Market Authority; Audit, Filing, Violation.
Immediately after the close of each fiscal year, every authority established pursuant to this act shall cause an audit to be made of its...
Section 123.680 Market Authority; Agreement With Secretary Of Agriculture Of United States For Mortgage Insurance.
The board of directors of the authority shall be authorized to enter into agreements with the secretary of agriculture of the United States, hereinafter...

Last modified: October 10, 2016