Michigan Compiled Laws Act 31 Of 1948 (1st Ex. Sess.) Building Authorities (123.951 - 123.965)

AN ACT to provide for the incorporation of authorities to acquire, furnish, equip, own, improve, enlarge, operate, and maintain buildings, automobile parking lots or structures, transit-oriented developments, transit-oriented facilities, recreational facilities, stadiums, and the necessary site or sites therefor, together with appurtenant properties and facilities necessary or convenient for the effective use thereof, for the use of any county, city, village, or township, or for the use of any combination of 2 or more counties, cities, villages, or townships, or for the use of any school district and any city, village, or township wholly or partially within the district's boundaries, or for the use of any school district and any combination of 2 or more cities, villages, or townships wholly or partially within the district's boundaries, or for the use of any intermediate school district and any constituent school district or any city, village, or township, wholly or partially within the intermediate school district's boundaries; to provide for compensation of authority commissioners; to permit transfers of property to authorities; to authorize the execution of contracts, leases, and subleases pertaining to authority property and the use of authority property; to authorize incorporating units to impose taxes without limitation as to rate or amount and to pledge their full faith and credit for the payment of contract of lease obligations in anticipation of which bonds are issued by an authority; to provide for the issuance of bonds by such authorities; to validate action taken and bonds issued; to provide other powers, rights, and duties of authorities and incorporating units, including those for the disposal of authority property; and to prescribe penalties and provide remedies.

History: 1948, 1st Ex. Sess., Act 31, Imd. Eff. May 10, 1948 ;-- Am. 1955, Act 25, Imd. Eff. Apr. 7, 1955 ;-- Am. 1964, Act 41, Imd. Eff. May 6, 1964 ;-- Am. 1967, Act 200, Imd. Eff. June 30, 1967 ;-- Am. 1968, Act 96, Imd. Eff. June 6, 1968 ;-- Am. 1969, Act 46, Imd. Eff. July 17, 1969 ;-- Am. 1970, Act 47, Imd. Eff. July 2, 1970 ;-- Am. 1973, Act 110, Imd. Eff. Aug. 19, 1973 ;-- Am. 1995, Act 147, Imd. Eff. July 11, 1995 ;-- Am. 1998, Act 190, Eff. Mar. 23, 1999 ;-- Am. 2010, Act 243, Imd. Eff. Dec. 14, 2010

Section 123.951 Local Building Authorities; Incorporation; Purposes; "Transit-oriented Development" And "Transit-oriented Facility" Defined.
(1) A county, city, village, or township may incorporate, as provided in this act, 1 or more authorities for the purpose of acquiring, furnishing,...
Section 123.952 Joint Buildings And Parking Lots; Authorities; Incorporation; Purposes.
Any combination of 2 or more counties, cities, townships, or villages may incorporate 1 or more joint authorities for the purpose of acquiring, furnishing,...
Section 123.952a Joint Buildings And Parking Lots Of School Districts And Municipalities; Authorities; Incorporation; Acquisition; Operation; Maintenance; Use.
A school district and a city, village, or township wholly or partially within the district's boundaries, or a school district and any combination of...
Section 123.952b Public Buildings Used For Disabled, Developmentally Disabled, Or Mentally Disturbed Children; Constituent School Districts And Intermediate School Districts; Authority; Purpose; Contract.
An intermediate school district and a constituent school district or districts wholly or partially within the intermediate school district's boundaries may incorporate an authority...
Section 123.953 Incorporating Unit; Definition.
The term “incorporating unit” as used in this act shall be deemed to mean a county, city, village, township, intermediate school district or other...
Section 123.954 Incorporation Of Authority; Procedure.
The incorporation of such an authority shall be accomplished by the adoption of articles of incorporation by the legislative body of each incorporating unit....
Section 123.955 County And Municipal Building Authority; Articles Of Incorporation; Contents; Eligibility Of Governing Body Member For Membership Or Appointment.
(1) The articles of incorporation shall set forth all of the following: (a) The name of the authority. (b) The name or names of...
Section 123.955a Joint Building Authority; Commissioners; Election And Terms Of Members; Chairperson; Secretary; Bylaws And Rules Of Procedure; Elected Official As Member; Conducting Business At Public Meeting; Notice Of Meeting.
(1) A joint building authority under section 2 incorporated by a county and a city, township, or village shall be directed and governed by...
Section 123.955b Board Of Commissioners; Compensation, Per Diem, Mileage.
Members of the commission may be paid such compensation, and such per diem and mileage for attending meetings, as may be provided by the...
Section 123.956 Articles Of Incorporation; Publication; Statement; Filing; Effective Date; Presumption.
(1) The officer designated in the articles of incorporation shall cause a copy of the articles of incorporation or a summary of the articles...
Section 123.957 Building Authority; Body Corporate; Powers.
Such authority shall be a body corporate with power to sue and be sued in any court of this state. It shall possess all...
Section 123.958 Contracts To Acquire Property; Leases And Subleases; Acquisitions Constituting Public Purpose; Stadiums.
The authority and its incorporating unit or units may only enter into a contract or contracts under which the authority will acquire property contemplated...
Section 123.958a Agreement In Contract Of Lease To Pay Cash Rental, Costs, And Expenses; General Obligations; Tax Levy; Other Funds; Setoff Or Abatement Of Cash Rentals.
(1) The incorporating unit or units contracting under this act shall in the contract of lease agree to pay to the authority, as cash...
Section 123.958b Contract Of Lease; Full Faith And Credit General Obligation; Resolution Submitting Contract To Vote Of Electors; Effective Date; Notice Of Intention; Referendum Petition; Election.
(1) The governing body of an incorporating unit may, by a majority vote of its members, authorize the execution of a full faith and...
Section 123.958c Violation Of Mcl 168.1 To 168.992 Applicable To Petitions; Penalties.
A petition under section 8b, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954...
Section 123.959 Building Authority; Acquisition Of Property, Condemnation.
For the purpose of accomplishing the objects of its incorporation the authority may acquire property by purchase, construction, lease, gift, devise or condemnation, and...
Section 123.960 Amendment Of Articles Of Incorporation.
Amendments may be made to articles of incorporation if adopted by the legislative body of each incorporating unit: Provided, That no such amendment shall...
Section 123.961 Building Authority Bonds Or Building Authority Refunding Bonds; Purpose; Conditions; Issuance Of Negotiable Bonds To Make Cash Rental Payments.
(1) For the purpose of defraying all or part of the cost of acquiring, improving, and enlarging any building or buildings, automobile parking lots...
Section 123.961a Building Authority Revenue Bonds Or Building Authority Revenue Refunding Bonds; Purpose; Prerequisites Of Issuance.
For the purpose of defraying all or part of the cost of acquiring, improving, and enlarging any building or buildings, automobile parking lots or...
Section 123.961b Ordinance Or Resolution Authorizing Issuance Of Bonds; Adoption; Contents.
The ordinance or resolution authorizing issuance of bonds shall become effective upon its adoption unless otherwise specified in the ordinance or resolution and shall...
Section 123.961c Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Compiler's Notes: The repealed section pertained to payment, redemption, execution, and tax exemption of serial and term bonds.
Section 123.961d Bonds; Statutory Lien.
There shall be created in the authorizing ordinance or resolution a lien by this act made a statutory lien upon the cash rental payments...
Section 123.961e Bonds; Use And Disposition Of Proceeds.
All moneys received from the sale of bonds shall be used solely for the purpose for which the bonds were authorized including any engineering,...
Section 123.961f Additional Bonds.
The commission in the ordinance or resolution authorizing the bonds may provide for issuance of 1 or more series of additional bonds to complete...
Section 123.961g Bond And Interest Redemption Fund.
The ordinance or resolution authorizing the bonds shall establish a bond and interest redemption fund into which shall be paid all cash rentals required...
Section 123.961h Redemption Of Bonds Prior To Maturity.
The commission may make provision in the ordinance or resolution authorizing the bonds for the redemption thereof prior to maturity. History: Add. 1973, Act...
Section 123.961i Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Compiler's Notes: The repealed section pertained to issuance of bonds by municipal finance commission or successor agency.
Section 123.961j Bonds Subject To Revised Municipal Finance Act; Tax Exemption.
(1) All bonds authorized under this act are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. (2) The...
Section 123.961k Repealed. 2002, Act 306, Imd. Eff. May 13, 2002.
Compiler's Notes: The repealed section pertained to bonds issued to refund outstanding bonds.
Section 123.962 Tax Exemption For Property.
All property owned by any authority shall be exempt from taxation by the state or any taxing unit therein. History: 1948, 1st Ex. Sess.,...
Section 123.963 Bonds; Retirement; Conveyance Of Title To Property.
When all bonds issued pursuant to the provisions of this act shall have been retired, then the authority shall convey the title to the...
Section 123.964 Construction Of Act.
The powers herein granted shall be in addition to those granted by any statute or charter. History: 1948, 1st Ex. Sess., Act 31, Imd....
Section 123.965 Validation Of Prior Authorities, Actions, And Bonds.
All authorities heretofore incorporated, all actions heretofore taken, and all bonds heretofore issued under this act, as originally adopted or subsequently amended, and which...

Last modified: October 10, 2016