§ 123.951 Local building authorities; incorporation; purposes; “transit-oriented development” and “transit-oriented facility” defined
§ 123.952 Joint buildings and parking lots; authorities; incorporation; purposes
§ 123.952a Joint buildings and parking lots of school districts and municipalities; authorities; incorporation; acquisition; operation; maintenance; use
§ 123.952b Public buildings used for disabled, developmentally disabled, or mentally disturbed children; constituent school districts and intermediate school districts; authority; purpose; contract
§ 123.953 Incorporating unit; definition
§ 123.954 Incorporation of authority; procedure
§ 123.955 County and municipal building authority; articles of incorporation; contents; eligibility of governing body member for membership or appointment
§ 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; n
§ 123.955b Board of commissioners; compensation, per diem, mileage
§ 123.956 Articles of incorporation; publication; statement; filing; effective date; presumption
§ 123.957 Building authority; body corporate; powers
§ 123.958 Contracts to acquire property; leases and subleases; acquisitions constituting public purpose; stadiums
§ 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
§ 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
§ 123.958c Violation of MCL 168.1 to 168.992 applicable to petitions; penalties
§ 123.959 Building authority; acquisition of property, condemnation
§ 123.960 Amendment of articles of incorporation
§ 123.961 Building authority bonds or building authority refunding bonds; purpose; conditions; issuance of negotiable bonds to make cash rental payments
§ 123.961a Building authority revenue bonds or building authority revenue refunding bonds; purpose; prerequisites of issuance
§ 123.961b Ordinance or resolution authorizing issuance of bonds; adoption; contents
§ 123.961d Bonds; statutory lien
§ 123.961e Bonds; use and disposition of proceeds
§ 123.961f Additional bonds
§ 123.961g Bond and interest redemption fund
§ 123.961h Redemption of bonds prior to maturity
§ 123.961j Bonds subject to revised municipal finance act; tax exemption
§ 123.962 Tax exemption for property
§ 123.963 Bonds; retirement; conveyance of title to property
§ 123.964 Construction of act
§ 123.965 Validation of prior authorities, actions, and bonds
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Terms Used In Michigan Laws > Chapter 123 > Act 31 of 1948 - Building Authorities

  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • certified abandoned property: means property that has been returned as delinquent to the county treasurer on March 1 of each tax year and is certified as certified abandoned property under the certification of abandoned property for accelerated forfeiture act. See Michigan Laws 211.79
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • incorporating unit: as used in this act shall be deemed to mean a county, city, village, township, intermediate school district or other school district incorporating an authority or joining in such incorporation. See Michigan Laws 123.953
  • Intestate: Dying without leaving a will.
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Testate: To die leaving a will.