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Current as of February 09, 2022 | Updated by FindLaw Staff
Sec. 410. The activities of the authority shall be financed from 1 or more of the following sources:
(a) Contributions to the authority for the performance of its functions.
(b) Revenues from any property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed upon the authority by trusts or other agreements.
(c) Tax increment revenues received pursuant to a tax increment financing plan established under sections 412 to 414. 1
(d) Proceeds of tax increment bonds issued pursuant to section 414.
(e) Proceeds of revenue bonds issued pursuant to section 411. 2
(f) Money obtained from any other legal source approved by the governing body of the municipality or otherwise authorized by law for use by the authority or the municipality to finance a development program.
(g) Money obtained pursuant to section 411a. 3
(h) Loans from the Michigan strategic fund or the Michigan economic development corporation.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 125. Planning, Housing and Zoning § 125.4410 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-125-planning-housing-and-zoning/mi-comp-laws-125-4410/
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 or via Westlaw before relying on it for your legal needs.
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