Mich. Comp. Laws § 141.1401
Short title.
This act shall be known and may be cited as "the convention facility authority act".
Michigan Compiled Laws — THE CONVENTION FACILITY AUTHORITY ACT (Act 203 of 1999)
Michigan · statute · 203 of 1999, Mich. Comp. Laws · 14 active provisions
Mich. Comp. Laws § 141.1402
Legislative findings.
The legislature of this state finds that there exists in this state a continuing need for programs to promote tourism and convention business in order to assist in the prevention of unemployment and the alleviation of the conditions of unemployment, to preserve existing jobs, and to create new jobs to meet the employme…
Mich. Comp. Laws § 141.1403
Definitions.
As used in this act: (a) "Authority" means a convention facility authority created under section 4. (b) "Board" means the board of directors of an authority. (c) "Convention facility" means all or any part of, or any combination of, a convention hall, auditorium, arena, sports facility, market, or other facility meetin…
Mich. Comp. Laws § 141.1404
Establishment of authority by county and city; resolution; organization.
(1) A qualified county and a qualified city may by resolutions of their respective legislative governing bodies jointly establish an authority under this act. On the date on which all the certified copies of the resolutions establishing the authority are filed with the secretary of state, the authority is created as a…
Mich. Comp. Laws § 141.1405
Board of directors; powers, duties, and functions; membership; terms; oath of office; vacancy; eligibility of legislative member or city official.
(1) The powers, duties, and functions of an authority are vested in and shall be exercised by a board of directors. The board shall consist of 7 members as follows: (a) Two members who are residents of the qualified county appointed by the county board of commissioners of the qualified county, not less than 1 of whom i…
Mich. Comp. Laws § 141.1406
Board of directors; discharge of duties; actions; meetings; compensation.
(1) Members of a board and officers and employees of the authority are subject to 1968 PA 317, MCL 15.321 to 15.330. A member of the board or an officer, employee, or agent of the authority shall discharge the duties of his or her position in a nonpartisan manner, in good faith, and with the degree of diligence, care,…
Mich. Comp. Laws § 141.1407
Conduct of business at public meetings; disclosure requirements.
(1) A board shall conduct all business at public meetings held in compliance with the open meetings act, 1976 PA 267, MCL 15.261 to 15.275. Public notice of the time, date, and place of each meeting shall be given in the manner required by the open meetings act, 1976 PA 267, MCL 15.261 to 15.275. (2) A record or a port…
Mich. Comp. Laws § 141.1408
Powers of authority; tax levy prohibited.
(1) An authority may do all things necessary or convenient to carry out the purposes, objectives, and provisions of this act and the purposes, objectives, and powers delegated to the authority or the board by other laws or executive orders, including, without limitation, all of the following: (a) Adopt bylaws for the r…
Mich. Comp. Laws § 141.1409
Employment of staff; audits; budget.
(1) An authority may employ staff, including legal and technical experts, and other officers, or employees, permanent or temporary, paid from the funds of the authority. (2) The accounts of an authority are subject to annual audits by the state auditor general or a certified public accountant selected by the authority.…
Mich. Comp. Laws § 141.1410
Convention facility authority fund; creation; disposition of money.
A convention facility authority fund is created for each authority. An authority shall deposit all money received and generated by the convention facility into the fund.
Mich. Comp. Laws § 141.1411
Payment of costs from certain revenues.
The payment of principal, interest, and other costs including engineering, financial, and issuance costs, associated with bonds issued by the authority may be made by the authority from any of the following revenues: (a) Federal grants, loans, appropriations, payments, or contributions. (b) The proceeds from the sale,…
Mich. Comp. Laws § 141.1412
Issuance of negotiable revenue bonds; limitations.
(1) An authority may only issue negotiable revenue bonds under the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.140. An authority may not issue any other kinds of bonds, notes, or other obligations. (2) An authority may authorize and issue its negotiable revenue bonds payable solely from the revenues or fun…
Mich. Comp. Laws § 141.1413
Property of authority.
(1) Property of an authority is public property devoted to an essential public and governmental function and purpose. Income of the authority is for a public purpose. (2) Except as otherwise provided in this subsection, the property of the authority and its income and operations are exempt from all taxes and special as…
Mich. Comp. Laws § 141.1414
Use of funds received pursuant to section 301 of 1999 PA 137.
Funds received by the authority pursuant to section 301 of 1999 PA 137 shall not be used by the authority to defray costs incurred before the date on which the funds are released by the state treasurer.