Michigan Laws 141.1445 – Disposition of revenue
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 141.1445
- Assessment: means the amount levied against an owner of a transient facility within an assessment district computed by application of the applicable percentage against aggregate room charges with respect to that transient facility during the applicable assessment period. See Michigan Laws 141.1442
- Event center: means all or any part, or any combination of convention halls, auditoriums, stadiums, music halls, arenas, meeting rooms, exhibit areas, and related public areas owned by a municipality or related event center authority. See Michigan Laws 141.1442
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Municipality: means 1 of the following:
(i) A county having a population of greater than 250,000 and less than 300,000 according to the most recent federal decennial census and that levies an excise tax under 1974 PA 263, MCL 141. See Michigan Laws 141.1442state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The revenues derived from the assessment imposed under this act shall be deposited in a special fund to be used by the municipality or by an authority that is organized pursuant to state law only to pay for 1 or more of the following:
(a) The cost of administration and enforcement of the ordinance.
(b) The financing of the acquisition, construction, improvement, enlargement, repair, or maintenance of convention and entertainment facilities, including the payment of principal and interest, when due, on bonds or other evidence of indebtedness issued by the municipality for an event center.
(c) Current or future annual rental payable by the municipality to an authority organized pursuant to state law for the purpose of acquiring, constructing, improving, enlarging, repairing, or maintaining the convention and entertainment facilities and leasing them to the municipality.