Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
Sec. 11. The activities of the authority must be financed from 1 or more of the following sources:
(a) Contributions, contractual payments, or appropriations to the authority for the performance of its functions or to pay the costs of a brownfield plan of the authority.
(b) Revenues from a property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed on the authority by trusts or other agreements.
(c) Subject to the limitations imposed under sections 8, 13, 13b, and 15, 1 1 or both of the following:
(i) Tax increment revenues received under a brownfield plan established under sections 13 and 14. 2
(ii) Proceeds of tax increment bonds and notes issued under section 17. 3
(d) Proceeds of revenue bonds and notes issued under section 12. 4
(e) Revenue available in the local brownfield revolving fund for the costs described in section 8.
(f) Construction period tax capture revenues, withholding tax capture revenues, income tax capture revenues, and sales and use tax capture revenues received under a transformational brownfield plan established under sections 13c and 14a. 5
(g) Money obtained from all other sources approved by the governing body of the municipality or otherwise authorized by law for use by the authority or the municipality to finance activities authorized under this act.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 125. Planning, Housing and Zoning § 125.2661 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-125-planning-housing-and-zoning/mi-comp-laws-125-2661/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)