Current as of February 09, 2022 | Updated by FindLaw Staff
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Sec. 19. (1) An authority that completes the purposes for which it was organized shall be dissolved by resolution of the governing body. Except as provided in subsection (2), the property and assets of the authority remaining after the satisfaction of the obligations of the authority shall belong to the municipality or to an agency or instrumentality designated by resolution of the municipality.
(2) Tax increment revenues and the interest earned on tax increment revenues shall be distributed as provided under section 16(2). 1
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 125. Planning, Housing and Zoning § 125.2669 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-125-planning-housing-and-zoning/mi-comp-laws-125-2669/
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